RBNZ bank capital proposals slammed in advice to minister

Tue, 09 Jun 2020

The Reserve Bank's proposals, now policy, to increase bank capital requirements were unnecessarily risky, out of whack with international standards and informed by low quality information. That's according to independent advice sought last year by then Economic Development Minister David Parker. Ulf Schoefisch at Strategas Consulting provided the advice in March 2019. Schoefisch was formerly chief economist at Deutsche Bank NZ, the New Zealand Institute of Economic Research and Martin Jenkins and worked for the RBNZ for six years until...

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