OPINION: The elephant in RBNZ's bank capital room

OPINION: The elephant in RBNZ's bank capital room
Jenny Ruth
The most surprising thing about the Reserve Bank's proposed new bank capital rules remains that nobody has attempted to explain why we shouldn't believe the results of the RBNZ's own stress-testing of the major banks. One would think that if RBNZ was planning to force the big four banks to near double their minimum equity as proposed, it would first have to demonstrate why current equity levels are inadequate. RBNZ governor Adrian Orr came closest to it early this year in responding to a BusinessDesk story examining public stress test res...

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