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Todd Stephenson: Finance and Expenditure committee member says barriers need to be lowered for foreign banks
Published 8 months ago
Description
Parliament's finance and expenditure committee released the findings of its banking inquiry today, making 19 recommendations - 14 of which have cross-party support.
It concluded there is no silver bullet for more competition in the sector.
Committee member Todd Stephenson saysthe first step is reducing barriers to entry.
He says a large part of that is capital requirements for new players.
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