NZ banks well-placed to weather downturn, RBNZ says

Tue, 11 Nov 2014

By Paul McBeth Nov. 12 (BusinessDesk) - New Zealand's banks are strong enough to withstand a sharp downturn, and would be able to stay within regulatory requirements, according to the Reserve Bank. The central bank, in conjunction with the Australian Prudential Regulation Authority, stress tested New Zealand's banks this year to see how they would stand up under two adverse scenarios, it said in its six-monthly financial stability report. The first scenario modelled a sharp Chinese slowdown triggering a double-dip recession, leading to...

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