The ANZ board was called to an intense meeting with Reserve Bank Governor Adrian Orr on Friday, just hours before news about the sale of a luxury mansion to ex-chief executive David Hisco's wife broke, the Herald has learned.

On the agenda was the ANZ's breach of capital ratio and the unorthodox departure of chief executive David Hisco.

Asked about being called to a "please explain meeting", an ANZ spokesman said: "as is normal, we have regular engagement with the Reserve Bank."

The Reserve Bank has also declined to comment on the meeting.


In a statement it said: "Meetings with