New Zealand governor says banks need higher capital ratios
RBNZ concerned that country could pick up bill for failure of foreign-owned banks, Orr says
The Reserve Bank of New Zealand governor said the country’s commercial banks need higher capital ratios to improve financial stability
The RBNZ is concerned that the country’s citizens could end up paying the bulk of the bills if a foreign-owned bank fails in New Zealand, Adrian Orr said in Auckland today (November 30).
“Our assessment is that we can improve the soundness of the New Zealand banking system with additional capital with no trade-off to efficiency,” Orr said.
In its assessment
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