NZ banks can currently withstand one-in-100-year shocks: Orr

Wed, 04 Dec 2019

Bank capitalisation levels currently are sufficient to withstand a one-in-100-year shock to the financial system, according to Reserve Bank governor Adrian Orr."It's about one-in-100 where they sit at the moment, there or thereabouts," Orr told Parliament's finance and expenditure committee.The appearance of Reserve Bank officials before the committee comes a day before the central bank announces its final decisions on how much banks will have to increase their capital levels.The RBNZ has proposed lifting the minimum common equity the four majo...

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