The Bank of New Zealand proposes to raise the capital ratio of top banks to 16%.

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      New Zealand's four major banks may have to raise 20 billion New Zealand dollars ($13.53 billion) in new capital over the next five years to meet new capital requirements from the central bank, which could lead to higher borrowing costs.
The RBNZ may eventually consider easing its policy from its current record low, the bank said on Friday, if the fiscal tightening caused by such financing is accompanied by tepid inflation and slow employment growth.
The capital requirements proposal would allow the country's four largest banks to raise their capital ratios to 16% of risk-weighted assets five years in advance.
In December, the Federal Reserve of New Zealand proposed doubling the minimum primary capital of all banks from 8.5%. At present, the level of primary capital has reached about 12%.
New Zealand Vice Governor Jeff Baskand told reporters that the Bank of New Zealand expects the total capital of the four major banks to increase by about NZ$20 billion, while other smaller banks will increase by NZ$900 million.
Friday's announcement led to a fall in the New Zealand dollar.


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