The Commonwealth Bank of Australia is considering options for the group's life insurance business, valued at as much as A$5 billion, which could include a sale of the unit, AFR's Street Talk reports. It is understood investment bank JPMorgan has been working with the country's largest lender on the review of CBA's CommInsure business, Sources told Street Talk the life insurance review is not related to APRA's new capital standards; CBA believes it can meet the new requirements through organic capital generation. Fitch Ratings has affirmed ANZ Bank New Zealand Limited's NZ$5.07 billion of outstanding mortgage covered bonds at 'AAA'. As at end-May 2017 the cover pool consisted of over 58,000 home loans secured by first-ranking mortgages of New Zealand residential properties with a total outstanding balance of NZ$10.7 billion. Fitch noted that "New Zealand does not explicitly exempt the issued covered bonds from bail-in under the Open Bank Resolution regime, and upon resolution of the bank, there is a risk of cover-pool enforcement …" Financial sector firms and regulators have a part in managing cyber security risks, while benefiting from the opportunities new financial technology offers - "focused on outcomes, rather than prescriptive compliance exercises," Toby Fiennes, Reserve Bank of New Zealand's head of prudential supervision, said in a speech at the Future of Financial Services conference, in Auckland. The Reserve Bank had thought about whether to introduce more prescriptive requirements but decided not to at this stage, as "the technology and threat landscape are both changing so rapidly…. In the long term, digital disruption of the banking sector may improve the efficiency of the financial system," Fiennes said.