RESEND: Heartland gets looser capital requirements, plans to keep current levels

Tue, 13 Jan 2015

(fixes typo in headline) By Paul McBeth Jan. 14 (BusinessDesk) - Heartland New Zealand, the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies, has been granted looser capital requirements by the Reserve Bank, but doesn't plan to ease back on its current levels. From Jan. 31, the Christchurch-based lender's regulatory capital requirements will be in line with other banks after needing higher levels as a condition of its initial registration in December 2012, it said in a statement. That w...

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