Reserve Bank of New Zealand Deputy Governor Bascand speaking
- says to take action as needed to ensure regulated financial institutions' balance sheets are resilient to future stresses in the economy and financial system
- we remain in a state of heightened uncertainty; covid still poses risks to the economic recovery and we assess that house prices are at an unsustainable level
- says institutions should avoid being over-exposed to vulnerabilities that could arise from excessive debt in the household or business sectors
