Finance
Explore the latest finance news by BusinessDesk's team of reporters around New Zealand.
Finance
PwC says NZ banks would effectively hold 27.1% equity if RBNZ proposals are adopted
By Jenny Ruth May 20 (BusinessDesk) - New Zealand’s major banks already hold more capital than Australian, Canadian, Austrian, Irish and Singaporean banks, a new study by PricewaterhouseCoopers has found. Domestic capital levels, when compared on a like-for-like basis, are...
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Finance
Bankers' Assn says RBNZ bank capital proposals would hurt the economy
By Jenny Ruth May 20 (BusinessDesk) - The New Zealand Bankers' Association is calling for a rethink of the Reserve Bank’s bank capital proposals to avoid hurting the economy. “Independent analysis by former Treasury Secretary Dr Graham Scott shows the Reserve Bank should re...
Finance
RBNZ censures ANZ, prescribes risk capital calculation
By Rebecca Howard May 17 (BusinessDesk) - The Reserve Bank of New Zealand has revoked ANZ Bank New Zealand's accreditation to model its own operational risk capital requirement due to a "persistent failure" in its controls and attestation process. ANZ is one of four big ban...
Finance
Xero's CEO says it still has a cautious future in the US
By Jenny Ruth May 17 (BusinessDesk) - Xero’s chief executive still sees a future for the accounting software company in the US but he’s careful to dampen expectations of what’s possible. Yesterday’s results showed Xero had 195,000 customers in North America at March 31, up...
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