New Zealand banks attack RBNZ capital proposals

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The Reserve Bank of New Zealand

The New Zealand Bankers’ Association (NZBA) called today (May 20) for the Reserve Bank of New Zealand (RBNZ) to reconsider its plans to sharply increase minimum capital requirements.

The industry association published a review of the proposal, concluding the RBNZ’s preferred higher capital requirements are excessive and would hurt the economy if implemented.

“Independent analysis by former Treasury secretary Dr Graham Scott shows the reserve bank should rethink its proposals to avoid putting a

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