Former BNZ chair Kerry McDonald has publicly called for the resignation of ANZ New Zealand chair John Key, following censure of the bank by the RBNZ. Key, the former Kiwi prime minister, was appointed to ANZ's board shortly after stepping down from politics. Last month the Reserve Bank said the onus was on him and the other directors to ensure the bank was compliant with regulatory requirements. ANZ had been found to have been failing to properly calculated its risk. McDonald (who chaired BNZ from 1996 until 2008) has written to RBNZ governor Adrian Orr remonstrating over the soft punishment of what he termed "a major breach" and calling for those with oversight, including Key, to go.