The Council has recently established a subcommittee, called the banking forum, which is intended to help ensure that government agencies see the big picture of regulatory initiatives affecting the banking sector at any given time. The exchange of information at the forum will help agencies to sequence regulatory reforms and consultations so that pressures from bunching are avoided.
Process for carrying out the stocktake We are enthusiastic about the stocktake project, and believe it can lead to positive outcomes for the public, the Reserve Bank, banks and NBDTs, and other stakeholders. 5  With the possible exception of those parts of the Act that contain specific prudential obligations such as those relating to governance and risk management.