RBNZ sanctions bank over capital calculation errors

Reserve Bank of Australia
Reserve Bank of Australia

The Reserve Bank of New Zealand (RBNZ) has imposed sanctions on one of the banks it supervises, after “errors” came to light in the bank’s capital calculation methods.

Bank of New Zealand (BNZ) discovered the issues itself while “undertaking a process of remediation”, the RBNZ said in a statement. The bank identified three capital calculation errors, which resulted in misreported risk weights “over a number of years”.

The RBNZ has required that the bank raise the risk weight floor for

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account