While all eyes have been on the woes of Treasury Secretary "Gabs" Makhlouf at No 1 The Terrace, across the road at No 2, Reserve Bank governor Adrian Orr is also showing signs of strain.

Makhlouf's troubles stem from sloppy website practice.

Orr's troubles are more fundamental: he has angered the big four trading banks with a large, proposed increase in capital-holding requirements and their intense lobbying against this is starting to get to him.


Orr gave two remarkably spiky public performances at a press conference and a select committee hearing on the central bank's latest Financial Stability Report