ADRIAN ORR our NEW RBNZ GOVERNOR

[Aaron]

I am warming to Adrian Orr, someone prepared to call bull**** on the banks and their whining over capital requirements. This is what I don't like about the news this article highlights bickering but I thought the paragraphs near the bottom held the real news. Sorry just read this again it is not journalism just an opinion piece.

"Orr suggested that the NZBA's submission had claimed that "if banks fail it should be our fault and we should pay them out anyway", something he believed was "astounding""

"NZBA has denied suggesting that the government should ever bail out the banks, saying that instead an independent report merely speculated that in the event of a bank failure
a government would be reluctant to allow customers to take a haircut on their deposits."


So the banks would rather provide "customers" a haircut on their deposits rather than hold more capital to try and deal with a crisis. What a bunch of s**tbags.

https://www.stuff.co.nz/business/113...ose-to-warfare