Statement by the Trans-Tasman Council on Banking Supervision – November 2026

The Trans-Tasman Council on Banking Supervision (TTBC) met in Sydney, Australia on 4 November 2026. TTBC members discussed key macro-financial risks and challenges, financial system risks related to third-party service providers and developments in cross-border payments. Members also reviewed progress on trans-Tasman regulatory alignment, crisis preparedness and bank resilience throughout 2026, and endorsed the TTBC Workplan for 2027.

Members continue to monitor the impact of global and geopolitical events on financial stability. Financial institutions in Australia and New Zealand remain sound, with strong capital and liquidity buffers and robust prudential requirements. These foundations position both banking systems well to navigate current and emerging challenges.

Members discussed financial institutions' increasing reliance on common third-party service providers and the potential for a disruption to affect multiple institutions across Australia and New Zealand. Members emphasised the importance of information sharing and supervisory cooperation in understanding and effectively managing these shared risks. Members agreed to continue examining these risks, and to explore opportunities for cooperation on policy and regulatory approaches, where appropriate.

Members also discussed developments in cross-border payments and noted work underway domestically and internationally to improve the speed, cost, transparency and accessibility of cross-border payment services. Members exchanged views on opportunities and challenges arising from technological developments and innovation in payment systems.

TTBC members welcomed the continued collaboration between member agencies and noted progress in 2026 including on:

• resolution planning for regulated entities, with members cooperating on common risks and opportunities through information sharing and discussion of relevant policy developments, including New Zealand’s capital framework and loss-absorbing capacity instruments and their interaction with Australian capital requirements.
• regulatory alignment, with a focus on non-financial risk, consistent with the announcement by the New Zealand Minister of Finance and the Australian Treasurer on 5 December 2025, with members concluding that regulatory coordination is strong and that there is broad alignment in the major prudential policy settings in these areas.
• the trans-Tasman stress testing exercise, which sought to enhance cross-border regulatory collaboration in support of financial stability while also reducing regulatory burden for participating banks. The results indicated that banking systems would remain resilient through a severe downturn in both economies. Notwithstanding substantial loss levels and pressure on capital and liquidity, banks continued to support households and businesses by providing credit throughout the stress period.

Members endorsed the TTBC workplan for 2027, which will include work on systemic cyber risks and trans-Tasman crisis management arrangements.

The TTBC will continue to foster collaboration in addressing shared challenges in the financial sector. The Australian Treasury chaired the TTBC in 2026. The New Zealand Treasury will assume chairing responsibility for the TTBC in 2027.

About the Trans-Tasman Council on Banking Supervision

The Trans-Tasman Council on Banking Supervision (TTBC) forum aims to promote the coordination of trans-Tasman bank regulation and supervision. It is chaired by the Secretaries of the Australian and the New Zealand Treasuries on an alternating basis. The TTBC's membership also includes senior officials from the Reserve Bank of Australia (RBA), the Australian Prudential Regulation Authority (APRA), the Australian Securities and Investments Commission (ASIC), the Reserve Bank of New Zealand (RBNZ), and the New Zealand Financial Markets Authority (FMA).

The TTBC's terms of reference are available here.