ANZ said in an ASX announcement it is “currently reviewing the consultation paper and will update the market once it has done so”.
The move would see shareholders pay for a more stable banking system. The major banks were forced to lift capital levels in Australia in 2015 in the wake of the financial system inquiry.
Reserve Bank of New Zealand deputy governor Geoff Bascand said in a statement : “While borrowing costs may increase a little, and bank shareholders may earn a lower return on their investment, we believe these impacts will be more than offset by having a safer banking system for all New Zealanders.”
.”We expect only a minor impact on borrowing rates for customers.”
The Reserve Bank of New Zealand said it was consulting on a five year transition period for the new requirements and requested feedback on its proposals by March 22.
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