There's no doubt some serious issues at ANZ have dented public confidence in the local banking sector.

The public needs answers to awkward questions thrown up by the issues at New Zealand's largest bank. We also need reassurance that these are specific issues at the ANZ - not symptomatic of a wider culture of excess in the banking sector.

The events at ANZ have understandably brought calls for a full Royal Commission into the banking sector here, along the lines of Australia's Hayne Commission.


The Australian Commission ushered in a cultural change at senior levels of