Regulatory Alerts2022-12-07
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FMG feedback on Mutual Capital Instruments
FMG, a mutual insurer regulated by the Reserve Bank of New Zealand, submitted feedback on the RBNZ proposal to allow mutual banks to issue CET1 capital instruments. The submission highlights that mutual insurers face similar capital constraints and notes that jurisdictions like Australia already permit such instruments for solvency reporting. FMG urges the RBNZ to extend this regulatory regime to mutual insurers to provide them with an additional source of recognized capital.
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