At the AFR come stunning leaks from APRA staff via its internal review:
“When institutions are consistently able to get a different result by appealing to GM levels and above, line supervisors become demoralised and institutions become emboldened to push the limits,” one employee said.
…One employee speaking under the protection of anonymity said the biggest problem with the regulator was that there were “too many underperforming managers”.
…“In some pockets of APRA, staff do not have a high degree of trust that their managers would ‘back them’, that it would be safe to make a mistake, or that career-related outcomes are fair,” the report said.
Wayne Byers must resign. New blood (and values) is needed. Recruit an RBNZ gun.