New Zealand’s lenders say they will have to fork out as much as $870 million to meet the Reserve Bank’s new plans for what services can be outsourced. The new rules for outsourcing are integral to the RBNZ’s open bank resolution policy, designed to ensure an orderly management when a lender collapses because third-party arrangements could undermine the efficacy of the regime. The loss of third party services in certain areas of the financial industry will massively damage profitability and restrict the lending industry, not strengthen it. You can read more here.