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.
Where to start?