Banks hit back at RBNZ macro-prudential proposal
RBNZ’s proposed debt-to-income limits criticised by commercial banks
Some of New Zealand’s biggest commercial banks have criticised the Reserve Bank of New Zealand’s (RBNZ) proposal to include debt-to-income limits in its macro-prudential toolkit.
ANZ Bank, the nation’s largest bank in terms of assets, deemed the measure “unnecessary and unsuitable” in the current environment, stating it would not support DTI limits.
Another of New Zealand’s commercial banks argued the central bank had been quick to assume DTI limits were the correct answer, stating it had not
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