- The New Zealand Bankers’ Association and the Banking Ombudsman agree with the Reserve Bank that disclosure of banks’ breaches of their conditions of registration should be limited to “material” breaches only.
- In response to Orr’s comments an NZBA spokesman said the lobby group’s submission did not suggest the government should pay out in the event of a bank failure.
- NZBA describes the Reserve Bank proposals as excessive and maintains they will cost “households, businesses and our economy” around $1.8 billion a yea
- New Zealand’s banks are calling for the Reserve Bank to rethink its plan to require them to hold more capital to help withstand financial shocks, claiming it risks putting “a handbrake” on the economy.
- The New Zealand Bankers’ Association has called on the Reserve Bank to reconsider its proposals to almost double capital requirements for New Zealand’s banks, and take into account an independent review by former Treasury Secretary Dr Graham Scott. “Independent analysis by former Treasury Secretary Dr Graham Scott shows the Reserve Bank should rethink its proposals to avoid putting a handbrake on our economy,” says New Zealand Bankers’ Association... Read more »
- That analysis showed the New Zealand banks were carrying six percentage points higher capital at 16.3 percent that the stated average 10.3 percent level then.
