The RBNZ is planning a review of the disclosure regime for banks in the wake of inconsistencies in the way banks report their financial results in Australia and in New Zealand. "We are undertaking a review of disclosure regime, which we are kicking off now, which will be a longer and complex process," Toby Fiennes, RBNZ head of prudential supervision said. The RBNZ will be consulting with the banks on this. This, however, doesn't mean the RBNZ is currently dissatisfied with the way results are currently reported. "Broadly, banks are reporting results as we expect them to. There are some inconsistencies between the way they are reported in Australia and the way they are reported here - at a group level," Fiennes said. According to deputy governor Grant Spencer, the main issue is that banks define exactly what are referring to in their results. This means providing more clarity on the period and a reference to NZ business, for example, should clearly define what those businesses include.