And for the Australian-owned banks, New Zealand has provided a significant addition to their home market, and one that, in recent years, has been very profitable. With operations on both sides of the Tasman, the Australian banks are well placed to service trans-Tasman customers, and our banking supervision requirements place few, if any, impediments in the way of that.
Next steps Having said all that, the recent report to Ministers that I mentioned in my opening remarks has usefully sharpened the focus on achieving increased coordination of trans-Tasman banking supervision.