Banks have to respond to all criticism, comments and complaints, they have to defend their line of business and, above all, they have to provide full information to their clients. In this respect, I welcome the ASB’s Code of Professional Banking Conduct which sets a good example of self-regulation, and at the same time, reduces pressures on the National Bank as the regulatory authority.
Nevertheless, the NBS will continue to insist on disclosure of the effective interest rate, education of bank clients, as well as on fast and efficient processing of customer complaints! 2  BIS Review 56/2007  4. NBS regulations  Six years of transition and the current level of development of the banking sector call for another systematic review of all NBS regulations.