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ANZ warns Reserve Bank capital proposals will push banks towards housing
New Zealand's largest lender says the Reserve Bank may push more money into housing, Kiwibank says it will give a bigger advantage to its Australian rivals, while members of the public say bank shareholders' fears should be ignored. On Monday the Reserve Bank released 170 submissions on its proposals, which would require banks to keep more capital to enable them to withstand a one in 200 year financial crisis. The proposals, which could require the New Zealand banking sector to raise more than an additional $20 billion in capital to comply with the requirements, have met stiff opposition from the banks which ... (full story)