NBNZNational Bank of New Zealand
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Forward rates are also from the NBNZ database and are recorded on the same basis.
Shortly after the Amendment Act was passed, the Reserve Bank applied some of the Act's provisions to the purchase by ANZ of NBNZ. Pursuant to a new power in the Amendment Act, ANZ was required to obtain the Reserve Bank's consent to its purchase of NBNZ.
Lloyds said it had reviewed NBNZ and its prospects and had concluded that a sale was in the best interests of the group.
Given the systemic importance of NBNZ and the RBNZ's local incorporation policy, under any sale scenario it is our expectation that the business undertakings of NBNZ will remain on the balance sheet of a locally incorporated entity--i.e.
(13.) The 2001 survey includes the ANZ, BNZ, Deutsche Bank, NBNZ and Westpac.