The Reserve Bank of New Zealand has eased the dividend restrictions placed on retail banks at the height of the COVID-19 pandemic. The changes will allow banks to pay up to a maximum of 50% of their earnings as dividends to their shareholders.
We have today released a feedback statement (PDF 700KB) on the consultation relating to Solvency Standard Review principles. We thank those who provided submissions. We are working through submissions received for the consultation on the structure of the solvency standards and our approach to IFRS 17.