IMF favours gradual bank capital hike

Wed, 26 Jun 2019

By Rebecca Howard June 26 (BusinessDesk) - The Reserve Bank's proposal to almost double the minimum amount of tier 1 capital banks have to hold is positive but must be gradually phased in, the International Monetary Fund says. "In general principles, we think the proposal is right. A substantial increase is needed," said Thomas Helbling, division chief in the IMF's Asia and Pacific department. "The principle of having a substantial increase in capital is commensurate with some of the elevated systemic risk in New Zealand's banking system....

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