The Reserve Bank Governor says banks have a critical role in financial recovery after COVID-19
The Reserve Bank Governor says banks have a critical role in financial recovery after COVID-19
27 May 2020
The central bank has released its six-monthly report on the Financial Stability of New Zealand's system.
Adrian Orr says at the start of the pandemic, the banking system had built up significant capital and liquidity buffers.
He says the buffers can now be used to support economic activity over the next few years.
Orr says there's concern for some lenders and life insurers... that have low profitability and low buffers.
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