Captured APRA declares war on RBNZ

You honestly would not read about it. Following the RBNZ marvelous and necessary move to lift bank capital ratios to something approximating safe, APRA has declared war upon it:

The Australian Prudential Regulation Authority (APRA) has released a strengthened prudential standard aimed at mitigating contagion risk within banking groups.

The updated Prudential Standard APS 222 Associations with Related Entities (APS 222) will further reduce the risk of problems in one part of a corporate group having a detrimental impact on an authorised deposit-taking institution (ADI).

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