NZ's Bollard: banks need more capital
Financial institutions need more capital if the global financial system is to get back on track, said Alan Bollard, the governor of the Reserve Bank of New Zealand.
Bollard said that sufficient capital was needed as a buffer against risk and as a base for growth. He said that the sufficiency of capital needed to be transparently observed by all in the market in order for confidence to return and normal financial trading to resume. He said, however, that this process could well drag on beyond this
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