Could Australian banks float their NZ subsidiaries?

Could Australian banks float their NZ subsidiaries?
Jenny Ruth
By Jenny Ruth Dec. 17 (BusinessDesk) - The Australian parents of New Zealand’s four largest banks would need to transfer about A$18 billion of capital to their subsidiaries to meet proposed new capital rules, according to Macquarie Equities. In announcing the proposed rules on Friday, the Reserve Bank estimated the big four banks would need to increase their tier 1 capital by $12.8 billion and replace another $6.2 billion of preference shares because they will no longer count as tier 1 capital. “We would be surprised if APRA (Australia...