CORRECTION Reserve Bank sticks to its guns on timing of new bank capital requirements

Wed, 12 Sep 2012

(corrects implementation date to 2013 in third par) By Pattrick Smellie Sept. 11 (BusinessDesk) - Australian-owned banks operating in New Zealand are being required to meet new global capital adequacy rules two years ahead of their trans-Tasman parents. The Reserve Bank of New Zealand rejected submissions from banks that they should have until January 2016 to get ready for new capital adequacy rules that are being imposed in the wake of the global financial crisis. The so-called Basel III framework, named for the Bank of International Settl...

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