Malcolm Edey will lead the team responsible for creating the Australian Financial Complaints Authority, the Financial Review reports. Edey is a former assistant governor at the Reserve Bank responsible for payments. Fitch Ratings said it affirmed the ratings of New Zealand's four major banks: ANZ, ASB Bank, Bank of New Zealand and Westpac New Zealand. It said the outlooks on the four banks' IDRs reflected those of their parents. The main negative is an old saw; a "high level of indebtedness means that households are increasingly susceptible to higher unemployment and interest rates", although this is not Fitch's base case.