The Reserve Bank put the figure at 20 basis points, while ANZ believed the impact could be up to triple that. The Reserve Bank said in its report into bank capital that a stronger banking system would mean New Zealand would be better able to survive large shocks. ​BusinessNZ chief executive Kirk Hope and the New Zealand Initiative think-tank immediately called for a further round of consultations on the Reserve Bank's decision. "The Reserve Bank suggests the impact on the economy will be negligible, with an impact of about 20 basis points on lending rates," ANZ said. "The 'best news' from the announcement is that the uncertainty around bank capital requirements is now largely behind us," he said.

Source: Stuff December 04, 2019 23:04 UTC