RBNZ opposes reviewing NZ banks' capital settings, suggesting open banking and financial literacy instead.
The Reserve Bank of New Zealand (RBNZ) has expressed disagreement with the Commerce Commission's suggestion to review the country's banks' capital settings, stating that changing these rules would compromise the stability of the financial system. RBNZ believes that open banking and financial literacy initiatives could improve competition among banks more effectively than adjusting capital requirements.
April 22, 2024
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