[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua makes decisions about official interest rates in a way that is robust in the face of uncertainty about the economy, Reserve Bank Assistant Governor Christian Hawkesby says in a speech published today*.

[unable to retrieve full-text content]The Privacy Commissioner has today issued a compliance notice to the Reserve Bank of New Zealand, triggered by a cyber-attack in December 2020.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has undertaken a thematic review of banks’ compliance with our liquidity policy, identifying a range of system, controls and risk management weaknesses as well as areas of good practice that the industry can learn from.

[unable to retrieve full-text content]Deputy Governor and General Manager Financial Stability Geoff Bascand will leave the Reserve Bank of New Zealand – Te Pūtea Matua in early 2022.

[unable to retrieve full-text content]The Reserve Bank – Te Pūtea Matua – is seeking views on its proposal to reduce risky mortgage lending by further reducing the amount of high Loan-to-Value Ratio (LVR) lending to owner-occupiers.

[unable to retrieve full-text content]The Reserve Bank – Te Pūtea Matua welcomes the High Court’s decision to impose a civil penalty on TSB Bank Limited for breaches of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (AML/CFT Act).

[unable to retrieve full-text content]The Reserve Bank – Te Pūtea Matua – is seeking engagement on its insurance policyholder security consultation which discusses whether the current legislation gives policyholders the protection that they expect.

[unable to retrieve full-text content]Home loan borrowers start to feel the initial impact of a rise or fall in official interest rates within a month, but the biggest impact on mortgage rates takes about six months.

[unable to retrieve full-text content]New Zealand is at Alert Level 4. Financial services are not included as ‘Alert level 4 businesses or services’ in the Public Health Response (Alert Level Requirements) Order (No 9) 2021.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua rapidly developed and introduced additional monetary policy (AMP) tools in the wake of the COVID-19 pandemic in 2020.

[unable to retrieve full-text content]House prices are above their sustainable level the Reserve Bank – Te Pūtea Matua – says.

[unable to retrieve full-text content]The Monetary Policy Committee agreed to retain the current stimulatory level of monetary settings, keeping the Official Cash Rate (OCR) at 0.25 per cent for now. Today’s decision was made in the context of the Government’s imposition of Level 4 COVID restrictions on activity across New Zealand.

[unable to retrieve full-text content]The Reserve Bank has ongoing research looking at cash use and payments in New Zealand.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua today welcomed the passing of new legislative foundations that will strengthen and modernise the way it operates and is governed.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has today issued a formal warning to the New Zealand branch of Westpac Banking Corporation (WBC) for failing to report prescribed transactions as required by the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua – will soon begin consulting on ways to tighten mortgage lending standards, Deputy Governor and General Manager for Financial Stability Geoff Bascand says.

[unable to retrieve full-text content]As the systemic impact of climate change on the economy and the financial system becomes clearer, the responses of central banks and regulators around the world have been evolving rapidly too.

[unable to retrieve full-text content]The reduction in interest rates since 2016 has increased cash-in-hand for mortgage holders while also reducing income for those who do not have mortgages through lower deposit rates, a Reserve Bank paper shows.

[unable to retrieve full-text content]Groups with an interest in the financial market transactions and payments are being asked for their views on how a new law governing the ‘plumbing’ of the financial system should be implemented.

[unable to retrieve full-text content]The Reserve Bank – Te Pūtea Matua – is today welcoming views on an interim Solvency Standard for insurers, which will determine the minimum amounts of capital that insurers must hold.

[unable to retrieve full-text content]The Monetary Policy Committee agreed to reduce the current stimulatory level of monetary settings in order to meet its consumer price and employment objectives over the medium-term.

[unable to retrieve full-text content]The Reserve Bank today announced the 2022 and early 2023 dates for releasing its quarterly Monetary Policy Statement (MPS), Monetary Policy Review (MPR) decisions and the six-monthly Financial Stability Report. The new dates cover the period from August 2022 to February 2023.

[unable to retrieve full-text content]“The Reserve Bank of New Zealand – Te Pūtea Matua will be consulting extensively over the remainder of 2021 on issues key to the future of how New Zealanders pay and save, driven by its new stewardship mandate for cash and a broader currency system that supports the prosperity and wellbeing of New Zealanders,” confirmed Assistant Governor Christian Hawkesby today.

[unable to retrieve full-text content]The tide is going out on international banking services for Pacific island nations, which could make trade, investment and sending money home more difficult and expensive.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has outlined its commitment and key priorities as kaitiaki (guardian) of New Zealand’s financial system in its Statement of Intent (SOI) for 2021 – 2024, released today.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has published the finalised bank capital adequacy requirements, outlined in the new, more user-friendly Banking Prudential Requirements (BPR) documents.

[unable to retrieve full-text content]The Reserve Bank – Te Pūtea Matua and the Minister of Finance have agreed to update their shared Memorandum of Understanding (MoU) on macro-prudential policy and add debt serviceability restrictions to the list of potential tools available.

[unable to retrieve full-text content]Efforts to help reduce interest rates and restore confidence in financial markets have seen Te Pūtea Matua’s balance sheet almost triple in size, Reserve Bank Head of Financial Markets Vanessa Rayner says.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua – has released the findings of independent reports on an illegal data breach and its handling of sensitive information.

[unable to retrieve full-text content]The Reserve Bank of New Zealand – Te Pūtea Matua has today filed a statement of claim in the High Court against TSB Bank Limited for acknowledged breaches of the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.