Australia's big banks rally on 'benign' capital requirements
The rules are part of regulatory efforts to ensure the country's large lenders can weather any downturn
Sydney
SHARES of Australia's big four lenders rallied as new capital requirements aimed at ensuring the banks are "unquestionably strong" turned out to be less onerous than expected.
Australia & New Zealand Banking Group Ltd (ANZ), Commonwealth Bank of Australia, National Australia Bank Ltd (NAB) and Westpac Banking Corp will need to have Tier-1 capital ratios of at least 10.5 per cent by January 1, 2020, the Australian Prudential Regulatory Authority (APRA) said in a statement on Wednesday.
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