September 29, 2019 / 10:24 PM / 2 months ago

NZ central bank sees need to improve resilience of financial system

SYDNEY, Sept 30 (Reuters) - New Zealand’s financial system is well equipped to manage current risks but there is a need to improve resilience, the country’s central bank said in its 2018/19 annual report on Monday.

“Vulnerabilities remain,” the Reserve Bank of New Zealand (RBNZ) said. “Debt levels are high, with lending and debt concentrated in housing and agriculture.”

“We need to improve the resilience of New Zealand’s financial system while conditions remain favourable, and we have been consulting on proposals to raise bank capital requirements.” (Reporting by Swati Pandey; Editing by Peter Cooney)

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