Roll on a more level playing field in banking

Roll on a more level playing field in banking
The big four New Zealand banks have an unfair competitive advantage.
Jenny Ruth
ASB Bank last week gave the Reserve Bank yet another reason to regret caving in to the Australian parents of our big four banks to let them use their own internal models for calculating capital.ASB, which is owned by Commonwealth Bank of Australia, discovered it had overstated its capital in its December disclosure statement because it had incorrectly classified "certain specialised lending exposures" as corporate lending exposures.ASB is by no means the only naughty bank – all of the big four banks have erred in the assessment...

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