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BRIEF-Westpac updates on RBNZ raising Westpac NZ's minimum regulatory capital ratios
November 15, 2017 / 1:36 AM / a month ago

BRIEF-Westpac updates on RBNZ raising Westpac NZ's minimum regulatory capital ratios

Nov 15 (Reuters) - Westpac Banking Corp:

* RBNZ has informed Westpac NZ of its decision following review of WNZL’s compliance with aspects of its advanced internal ratings

* ‍RBNZ has raised bank’s minimum regulatory capital ratios, until issues identified in review are remediated​

* Decision applies only to Westpac New Zealand Ltd & not to Westpac Banking Corp (including its New Zealand branch)​

* ‍RBNZ has acknowledged that WNZL’s capital has remained well above required regulatory levels​

* ‍WNZL’s current regulatory capital ratios are sufficient to accommodate these increases with total capital ratio at 30 Sept 2017 of 16.1 pct​

* In case of common equity capital ratio minimum has been raised from 4.5 pct to 6.5 pct ​

* New minimum regulatory capital ratios from Dec. 31, 2017, to be 6.5% for CET1 capital, 8 pct for tier 1 capital Source text for Eikon: Further company coverage:

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