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Reserve Bank of New Zealand News Releases
The Reserve Bank of New Zealand is New Zealand’s central bank. We promote a sound and dynamic monetary and financial system.

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Consultation on new mortgage bond standard extended and loan template published

Release date 15 February 2019 The Reserve Bank is extending the consultation period for the proposed mortgage bond standard. The new standard is aimed at supporting confidence and liquidity in the New Zealand markets. Consultation began in November. Following requests from stakeholders, the Reserve Bank has extended the consultation period by two weeks. Feedback is now due by 5.00pm on 8 March 2019. Submissions and a response to submissions will be published soon...

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New RBNZ monetary policy committee remit reiterates focus on price stability and employment

Release date 14 February 2019 News release issued by the Minister of Finance The Coalition Government’s plan to reform and modernise the Reserve Bank Act experienced an important milestone today, Finance Minister Grant Robertson says. Grant Robertson and Reserve Bank Governor Adrian Orr today signed the first ‘remit’ setting out the Reserve Bank of New Zealand’s new dual employment and price stability objectives. They also signed the ‘charter’ that will govern...

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Official Cash Rate unchanged at 1.75 percent

Release date 13 February 2019 Statement by Reserve Bank Governor Adrian Orr: Tena koutou katoa, welcome all. The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and 2020. The direction of our next OCR move could be up or down. Employment is near its maximum sustainable level. However, core consumer price inflation remains below our 2 percent target mid-point, necessitating continued supportive monetary...

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FMA and RBNZ report on life insurer conduct and culture

Release date 29 January 2019 The Financial Markets Authority (FMA) and Reserve Bank of New Zealand (RBNZ) have completed their joint review of 16 New Zealand life insurers. This review follows the regulators’ bank review published in November 2018. Rob Everett, FMA Chief Executive said: “Overall the report shows the life insurance sector in a poor light. Life insurers have been complacent about considering conduct risk, too slow to make changes following previous...

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Bank capital review background papers released, consultation extended

Release date 25 January 2019 The Reserve Bank has released background papers relating to its ongoing review of the minimum amount of capital that banks must hold. The Reserve Bank is currently consulting on a proposal to raise the amount of capital that banks must hold. This change would make bank failures less likely and ensure that bank shareholders have a meaningful stake in their bank, so that they absorb a greater share of losses if their bank fails. The...

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Bank Financial Strength Dashboard wins international award

Release date 22 January 2019 Central Banking Publications has named the Bank Financial Strength Dashboard as ‘Initiative of the Year’ in its annual awards. In announcing the award, Central Banking commented that very few central banks have opened up their financial system to public scrutiny to quite the same level as the Reserve Bank of New Zealand. They said that by revealing key metrics on the banking sector in a visual format that can be taken in at a glance,...

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Two appointments complete RBNZ Senior Leadership team

Release date 14 January 2019 Ms Simone Robbers and Mr Christian Hawkesby will join the Reserve Bank of New Zealand as Assistant Governors, Governor Adrian Orr announced today. Their appointments complete the Reserve Bank’s new Senior Leadership Team structure announced in 2018. Ms Simone Robbers will take up the new role of Assistant Governor and General Manager of Governance, Strategy and Corporate Relations on 18 February 2019. Under Simone’s watch will be the...

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Reserve Bank appoints Chief Information Officer

Release date 09 January 2019 The Reserve Bank today announced the appointment of Scott Fisher as Head of Digital Services/Chief Information Officer. Mr Fisher has been acting CIO since October 2018 and joined the Bank in January 2018 as Manager Digital Operations. Prior to joining the bank, he worked as Head of Service Operations at the New Zealand Racing Board (TAB) following eight years at the Bank of New Zealand in both technical and management positions....

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Reserve Bank aims for best regulatory relationships

Release date 18 December 2018 In a step toward achieving the best “regulator-regulated” relationships possible, the Reserve Bank (Te Pūtea Matua) has established a Relationship Charter for working effectively with banks. The Charter will also be discussed with insurers and non-bank deposit takers in the near future. Reserve Bank Governor Adrian Orr said the Relationship Charter commits the Bank and the financial sector to a mutual understanding of appropriate...

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