Reserve Bank warns consultation on bank capital ends this week

Reserve Bank warns consultation on bank capital ends this week
Jenny Ruth
By Jenny Ruth May 13 (BusinessDesk) - The Reserve Bank says it has received 90 formal submissions on its proposal to near double the minimum amount of tier 1 capital banks have to hold and is warning that submissions close this Friday. Meanwhile, ASB Bank’s Australian parent, Commonwealth Bank of Australia, says in its third-quarter update that it estimates ASB will need about $3 billion more capital under the current proposals. The central bank is proposing to lift the minimum common equity requirement to 16 percent of risk-weighted a...

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