While the 1,400 fruitcakes at the Lunatic RBA and Corrupt APRA are busy deploying psychologists to bank boards to understand how to babysit psychopathy, the 300 focused souls at the RBNZ remain a beacon of sanity. Yesterday it released the latest in discussion process as it pushes towards huge lifts in bank capital reserves:
The Reserve Bank has today released submissions along with a Summary of Submissions (PDF 399 KB) on the latest consultation paper in its Capital Review, which proposes several measures to ensure a safer banking system for New Zealanders.
There was significant and wide-ranging media and public interest in the How much capital is enough? (PDF 545 KB) paper, with written feedback from 161 submitters. Feedback has also been received from analysts and other interested parties who did not make a formal submission.