BUDGET 2013 English signs off on Reserve Bank’s new toolkit

Thu, 16 May 2013

By Paul McBeth May 16 (BusinessDesk) – Finance Minister Bill English has given the tick of approval to the Reserve Bank’s new set of tools to cool asset bubbles, the most pressing of which is the country’s heated property market. The minister has signed a memorandum of understanding with central bank governor Graeme Wheeler granting the bank regulator the ability to require lenders to hold more capital on their balance sheets against certain assets, or restrict the level of low-equity home loans, English said in a statement. Under the agr...

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