RBNZ signals U-turn on bank capital requirements

RBNZ signals U-turn on bank capital requirements
RBNZ chair Neil Quigley says a review will be complete by the end of the year (Image: NZME)
Pattrick Smellie
The Reserve Bank of New Zealand is preparing to backtrack on its implementation of capital adequacy ratios championed by its recently departed governor, Adrian Orr.Appearing before a select committee inquiry into banking competition for the first time since Orr’s sudden exit on March 5, Reserve Bank of NZ’s (RBNZ) chair, Neil Quigley, cited a global “softening” in views about how much capital banks should be required to hold to ensure financial system stability.That push has been particularly evident in the United States...

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