Should the Australian banks list their NZ subsidiaries on NZX?

Tue, 08 Oct 2019

The Australian expert the Reserve Bank engaged to critique its bank capital proposals has suggested that the big four banks could list on NZX as a means of dealing with the regulator's desire to force them to hold more capital. James Cummings of Macquarie University is not the first to suggest this but he doesn't appear to have looked at how practical his suggestion is. "A cost-effective response of the four large New Zealand banks will be to raise additional equity financing by listing their common shares in New Zealand," Cummings says i...

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