If the Aussie banks were hoping their New Zealand subsidiaries would avoid the scrutiny they've had at home, they've been sunk by ANZ's high-profile issues with ex-chief executive David Hisco and its breach of capital-ratio rules.

The Government, Financial Markets Authority and Reserve Bank today released a barrage of banking initiatives in rapid-fire.

It appears to have been a concerted push to address public confidence concerns.

The release of so much news in a six-hour period, in the wake of last week's high-profile departure of Hisco and further unanswered questions about his employment deal, is hardly coincidental.

Focus: Liam Dann on the Governments new deposit-protection scheme.

Where to start?