The Reserve Bank of New Zealand said it plans to outline its final views on its Capital Review for the local banking industry "by the end of November, with implementation of any new rules starting from April 2020." Submissions from bank and others "will now be collated and published along with a summary in June." The NZ Bankers Association yesterday hit out at the capital review proposals, releasing independent analysis by former Treasury secretary Graham Scott that found the costs of the proposals to the economy would outweigh the benefits by NZ$1.8 million a year. The NZBA said the Reserve Bank had "significantly underestimated the negative consequences" of its "excessive" proposals which were not backed by cost-benefit analysis.