RNZ’s board approved a $5m loan facility that violated legal standards, according to an exclusive report. The loan was approved despite board members expressing confidence in the broadcaster’s financial stability. The decision was made without full legal review, raising questions about governance practices. The loan facility was signed off during a routine board meeting. The Post obtained internal documents showing the loan exceeded regulatory limits. No formal legal action has been taken against the board. The broadcaster has not yet commented on the report. The situation highlights potential governance lapses within RNZ. The loan was intended to support short-term financial needs. The board members believed the broadcaster’s finances were stable at the time. The report suggests a lack of due diligence in the approval process. The loan facility remains active pending further investigation. The broadcaster is under pressure to improve transparency. The report comes amid growing scrutiny of RNZ’s financial management. The loan was approved without public disclosure. The board’s decision has sparked internal debate. The broadcaster has not issued a public statement. The report is the first to detail the legal breach. The loan facility is part of a broader financial strategy. The situation may lead to regulatory review. The board’s actions could affect public trust. The broadcaster is expected to respond soon.