Just a quick post today, as submissions close soon on the Reserve Bank Governor’s plans to require banks to fund much more of their balance sheets with equity capital, and I still need to write mine. The Governor stated last week that the Bank has already received 50 or so submissions. I hope that, in the spirit of open government and genuine consultation, the Bank will put those submissions up on their website pretty promptly – and not, as is more usually the case with them (but not, say, with parliamentary select committees), only when the Governor has made his final decision.
I’ve seen a few submissions, none of which seemed very positive on what the Governor was proposing. It remains striking that, five months on from the release of the initial consultative document there has still been no serious attempt at a cost-benefit analysis, and only the promise…
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Utopia, you are standing in it! 
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