The Reserve Bank of New Zealand has added a little over a month for submissions on its proposals to require the country's largest banks to carry substantially more capital on their balance sheets to reduce the risk of bank failures in a financial crisis. Submissions were initially due by March 29 but submitters now have until May 3 to prepare their responses to proposals that one international bank has warned could add as much as 1.25 percentage points to mortgage lending rates and slow the economy unnecessarily as a result. Swiss-based UBS said the RBNZ's proposals would be the most stringent among developed ... (full story)