RBNZ urged to take a wider, non-plumbing view of banks

RBNZ urged to take a wider, non-plumbing view of banks
Jenny Ruth
The Reserve Bank focuses too little on the incentives driving bankers, ignores the implied government guarantee that banks benefit from and takes too much of a "plumbing view" of banking, says an American banking professor employed by the central bank to assess its controversial bank capital-holding proposals. The New Zealand central bank also devotes too little attention to how capital regulations might influence the allocation of credit or the degree to which non-banks will be able to fill any gaps in the provision of credit, Professor Ros...

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