And there's a word to bank shareholders, that they may have to wait for long-term payoffs from their investments
And there's a word to bank shareholders, that they may have to wait for long-term payoffs from their investments
31 July 2020
It comes from Reserve Bank Deputy Governor Geoff Bascand.
He says the banking sector's reaction to Covid-19 will have a major influence on how the financial system evolves over the next decade.
Bascand says the ability of financial institutions to absorb shocks, accept risk and continue lending in the face of shocks, is critical.
The Deputy Governor says now is the time for banks to draw down prudently on their buffers to support their customers, adding shareholders will have to patient.
© 2024 Newstalk ZB, NZCity