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RBNZ largely ignores 2017 PwC report on NZ banks’ capital

A 2017 paper by accounting firm PricewaterhouseCoopers suggests New Zealand’s major banks already effectively hold more capital than the Reserve Bank wants them to hold in the future.

That paper was essentially rubbished by a Reserve Bank official at the time in a three-page memo, but the central bank has never conducted any detailed analysis of its conclusions.

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