RBNZ's bank capital proposals are 'radical', says rating agency Fitch
By Pattrick Smellie Dec. 19 (BusinessDesk) - International credit rating agency Fitch says the Reserve Bank's proposals for increased bank capital adequacy ratios are "radical" and "highly conservative relative to international peers", but the result will ultimately be "signif...
Credit unions seek scale and profitability in five-way merger
By Pattrick Smellie Dec. 18 (BusinessDesk) - Five of New Zealand's credit unions are to merge and create the country's largest single union of member-owned, low-cost lenders as the sector struggles with the cost of new banking software and a recent credit rating downgrade....
Govt scraps CTO role in favour of 'a small group'
By Pattrick Smellie Dec. 18 (BusinessDesk) - The government has abandoned its vexed search for a Chief Technology Officer in favour of "a small group of people" to assist it in mapping policy to guide New Zealand's digital technology environment. The decision, announced to...
MBIE involvement in spying on political parties an 'affront to democracy': SSC
By Pattrick Smellie Dec. 18 (BusinessDesk) - The "very close relationship" between the government's exploration regulator and private security firm Thompson & Clark led the agency to become involved in surveillance activity involving two political parties - the Green and Mana...
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