RBNZ on course for capital ratio hike despite backlash from banks
Big banks say plan is “too large and too costly”
The Reserve Bank of New Zealand is continuing to forge ahead with plans to sharply increase the amount of capital banks must hold, despite pushback from the country’s biggest banks.
The RBNZ published a summary of 161 responses to a consultation paper today (July 1). The paper outlines a plan to double capital requirements for top lenders to 16%. This would cut the expected frequency of crises to once every 200 years, the central bank claims.
However, some of Australia’s biggest banks have
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