Other enhancements to the 80% and 90% Guarantee Products include higher maximum loan amounts and interest subsidies up to 12 months.
Under the RBNZ's 'very severe' stress test scenario, banks would fall below minimum regulatory capital, requiring "significant recovery responses" to avoid resolution options.
Market expectations of bank capital levels and the knowledge that capital will eventually need to be rebuilt make it difficult for banks to dip into their buffers.
The move could impact Hong Kong's special trade status under US law, lead to sanctions against officials, and trigger a downgrade of the city's credit rating.
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