BNZ will need to raise new equity under RBNZ proposals, NAB wary

Mon, 01 Jul 2019

By Paul McBeth July 1 (BusinessDesk) - Bank of New Zealand says it will need to raise equity if the Reserve Bank's proposals for stricter capital requirements go ahead, and may not be able to rely on parent National Australia Bank. BNZ told the regulator that the proposals were a big change and a significant difference to Australian requirements. "Raising equity is more expensive than raising debt, although lower debt funding costs may provide some limited offset," it said in its submission on the proposal. "Higher average funding cost...

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