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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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New Zealand's financial system supported by health, fiscal and monetary policy responses

Release date 25 November 2020 Tēnā koutou katoa, welcome all. The Reserve Bank – Te Pūtea Matua has used its monetary policy and regulatory tools in unison to respond to the challenges of COVID-19 to achieve the best outcomes for the economy and financial stability. “Ongoing containment of COVID-19, and significant fiscal and monetary support, have ensured that the New Zealand economy has been relatively resilient to the economic shock from the pandemic so far,”...

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South Pacific Central Bank Governors' committed to cost effective remittances

Release date 20 November 2020 At the South Pacific Central Bank Governors’ Meeting on 17-18 November 2020, the South Pacific Governors agreed that access to cost-effective remittances remains a high priority focus for the region. A key focus has been their collective effort to develop a regional ‘Know Your Customer’ (KYC) facility. The central banks, with support from the International Monetary Fund and other international agencies, have successfully completed...

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Reserve Bank reviewing internal information processes

Release date 18 November 2020 The Reserve Bank has engaged Deloitte to independently review internal processes, after information was accidentally disclosed to a small group of financial services firms a short time before it was made public in the November Monetary Policy Statement (MPS). The accidental disclosure was included in a letter sent to non-bank financial institutions to finalise a consultation process. The letter confirmed the Reserve Bank’s decision...

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Reserve Bank launches consultation to implement Capital Review changes

Release date 17 November 2020 The Reserve Bank is launching a consultation on the details for implementing the final Capital Review decisions announced last December. In December 2019 the Reserve Bank made decisions to gradually raise bank capital requirements to make the banking system safer. These increases were meant to start in 2020, but have been delayed to allow banks continued headroom to respond to the economic shock of COVID-19. Increases in the required...

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More monetary stimulus provided

Tēnā koutou katoa, welcome all. The Monetary Policy Committee agreed to provide additional monetary stimulus to the economy in order to meet its consumer price inflation and employment remit. The Committee agreed that the additional stimulus would be provided through a Funding for Lending Programme (FLP), commencing in December. The FLP will reduce banks’ funding costs and lower interest rates. The Committee will also continue with the Large Scale Asset Purchase (LSAP) Programme up to $100...

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Further regulatory steps to promote cashflow confidence and stability

Release date 11 November 2020 Reserve Bank delays start date for increases in bank capital The Reserve Bank – Te Pūtea Matua is further delaying the start of increases in bank capital until 2022 to allow banks continued headroom to respond to the effects of the COVID-19 pandemic and to support the economic recovery. This delay supports other actions the Reserve Bank has taken to cushion the initial economic blow of COVID-19 by promoting cash flow and confidence...

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