Reserve Bank to get new financial stability tools by mid-2013, English says

Wed, 27 Feb 2013

By Paul McBeth Feb. 27 (BusinessDesk) - The Reserve Bank will get an expanded range of tools to shore up financial stability, including the ability to set loan-to-value ratios on residential mortgages and force banks to hold more capital against risky lending, by the middle of the year, Finance Minister Bill English says. The Reserve Bank will consult on its proposals for the macro-prudential tools next month, and English expects to sign a memorandum of understanding on the tool-kit with governor Graeme Wheeler later this year, the finance m...

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