Orr's blunt message to banks more important than rate cut

Orr's blunt message to banks more important than rate cut
Pattrick Smellie
Reserve Bank governor Adrian Orr believes getting the country's largest banks to use the "enormous headroom" in their balance sheets is more important to help New Zealand businesses and households through the coronavirus disruptions than today's historic interest rate cut."I think it will take a little while to sink in: the fact that we're saying to the banks 'there's a delay' (to new capital adequacy requirements), also you've got a buffer and together you've got multiple years of credit lending under normal conditions."As well as cutting the...

More Finance

Appetite suppressant craves capital
Finance

Appetite suppressant craves capital

Calocurb's cap raise is for a supplement developed by Plant & Food Research.

Garth Bray 24 Feb 2025
Officials MIA on banking competition, say critics
Finance

Officials MIA on banking competition, say critics

Over-regulation of the banking sector is blamed for stifling competition.

Pattrick Smellie 20 Feb 2025
Heartland declares $49.6m impairment in NZ business
Finance

Heartland declares $49.6m impairment in NZ business

Heartland Group shares fell 12% in early trading.

Gregor Thompson 18 Feb 2025
Big banks scrubbing public mentions of DEI
Finance

Big banks scrubbing public mentions of DEI

Citigroup and others seek to avoid possible litigation and federal probes.