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"By Sophie Boot Aug. 10 (BusinessDesk) - The Reserve Bank will recognise two bonds issued by state-owned Kiwibank as regulatory capital under the Capital Adequacy Framework, having previously rejected them. The ruling covers $100 million Tier 2 convertible subordinated bond issued in June 2014 and $150 million of Additional Tier 1 perpetual bonds issued by Kiwibank subsidiary Kiwi Capital Funding Ltd (KCFL) in May 2015. Kiwibank said that the RBNZ has issued a non-objection letter about the bonds after the lender made changes to address..."
<https://businessdesk.co.nz/article/rbnz-approves-kiwibank-bonds-as-regulatory-capital-after-changes>