The Reserve Bank of New Zealand "has....>

NEW ZEALAND: The Reserve Bank of New Zealand "has increased its supervisory

monitoring of the Bank of New Zealand (BNZ) and applied precautionary

adjustments to its capital requirements following the identification of

weaknesses in BNZ's capital calculation processes. BNZ identified a number of

errors while undertaking a programme of remediation, which began in early 2018

and is expected to continue into 2020. These included three capital calculation

errors, which resulted in misreported risk weighted assets over a number of

years. It is now required to increase the risk weight floor of its operational

risk capital model from $350 million to $600 million capital. The $250m increase

is a supervisory capital overlay."