Kiwibank the first to move on the new capital standards: strategic foresight or another bailout?

The state-owned bank cancels its $500m equity issuance following regulatory relief from the RBNZ.

Kiwibank's parent company, Kiwi Group Capital, has cancelled its planned $500m equity capital raise following the Reserve Bank's recent changes to capital requirements. The bank no longer needs additional equity because the revised capital settings reduce equity requirements, and Kiwibank recently completed a successful $400 million Tier 2 capital raise…