January 25, 2019 / 12:28 AM / 6 months ago

RBNZ extends consultation period for bank capital hike proposal

WELLINGTON, Jan 25 (Reuters) - The Reserve Bank of New Zealand (RBNZ) on Friday extended the consultation period for a proposal to sharply increase the amount of high quality capital that banks must hold.

RBNZ is considering almost doubling banks’ capital requirements to bolster the financial system’s ability to handle shocks.

The deadline for feedback on the proposals was extended to May 3 from March 29, the RBNZ said in a statement.

It expects to publish its final decision in the third quarter of 2019. (Reporting by Praveen Menon; Editing by Kim Coghill)

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