RBNZ deputy governor suggests NZ banks aren't sound enough

By Jenny Ruth Feb. 26 (BusinessDesk) - Deputy Reserve Bank governor Geoff Bascand appears to be going all out to demonstrate that New Zealand’s banks are not financially sound enough in order to justify the central bank’s proposals to double how much capital banks must hold on their balance sheets. “At one time, the owners of a bank had plenty of skin in the game; in fact, there was a time when banks got most, or all, of their money from their owners," Bascand says in a speech to the Institute for Governance and Policy Studies at Victoria...