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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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China Construction Bank Corporation registered as a bank

Release date 21 December 2017 The Reserve Bank today registered China Construction Bank Corporation to provide banking services in New Zealand. China Construction Bank Corporation is incorporated in the People’s Republic of China and will operate in New Zealand as a branch. A New Zealand subsidiary of the China Construction Bank Corporation, has been registered to provide banking services in New Zealand since July 2014. There are now 25 registered banks in New...

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Reserve Bank of New Zealand Bulletin released

Release date 19 December 2017 The Reserve Bank today released a Bulletin article by Dr Chris Hunt, ‘Independence with accountability: financial system regulation and the Reserve Bank’. This article discusses the main reasons for delegating certain financial system-related functions and objectives to an agency that sits at arm’s length from government. The article outlines the Reserve Bank’s role as New Zealand’s single integrated prudential regulator and...

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Adrian Orr appointed as new Reserve Bank Governor from 27 March 2018

Release date 11 December 2017 News release issued by the Minister of Finance Adrian Orr has been appointed as Reserve Bank Governor effective from 27 March 2018, Finance Minister Grant Robertson says. “Following the Reserve Bank Board’s unanimous recommendation to me, I have appointed Adrian Orr for a five-year term at the completion of Acting Governor Grant Spencer’s term,” Grant Robertson says. “I’m delighted the Board has been able to secure a Governor...

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Updated weights for Trade-Weighted Index

Release date 07 December 2017 The annual re-weighting of the Trade-Weighted Index (TWI) takes effect on Friday 8 December 2017. The TWI is a measure of the value of the New Zealand dollar relative to the currencies of New Zealand’s major trading partners. There are 17 currencies included in the TWI and each currency is weighted using the country’s bilateral trade with New Zealand. The current TWI weights and those that will apply for the next 12 months are:...

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Bulletin article discusses policy responses and lessons of international house-price collapses

Release date 07 December 2017 An article published today in the Reserve Bank Bulletin reviewed the policy responses by overseas central banks to house-price collapses. It was originally written by a contracted researcher, Maitland MacFarlan, as part of the Bank’s general consideration of risks around housing markets. The article considers several episodes of house price collapses around the globe over the last 30 years, a period that encompasses the Nordic...

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Monetary policy grapples with drivers of weak inflation

Release date 05 December 2017 Inflation in New Zealand and world-wide has been persistently low since the 2008 global financial crisis, partly because of factors such as globalisation, the growth of China, the rise of the digital economy, and low inflation expectations. In a speech today to the Institute of Directors, in Auckland, Reserve Bank Governor Grant Spencer said that persistently low inflation has prompted the Reserve Bank to think about whether it needs...

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Reserve Bank to ease LVR restrictions

Release date 29 November 2017 New Zealand’s financial system remains sound and risks to the system have reduced over the past six months, Reserve Bank Governor Grant Spencer said today when releasing the Bank’s November Financial Stability Report. “Momentum in the global economy has continued to build over the past six months, reducing near-term risks to financial stability. However, the New Zealand financial system remains exposed to international risks related...

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Reserve Bank consults on new mortgage bond collateral standard

Release date 17 November 2017 The Reserve Bank today published a consultation paper proposing an enhanced mortgage bond standard aimed at supporting confidence and liquidity in the financial system.  This follows a review of domestic and international mortgage bond collateral standards.  When the Reserve Bank lends to banks and other counterparties it does so against ‘eligible collateral’ (usually lower risk financial assets). Mortgage Bonds are a key...

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Fraud Awareness week a timely reminder of finance scams

Release date 16 November 2017 The Reserve Bank says that International Fraud Awareness Week is a good reminder of what to do if you’re the target of a finance scam. “The Bank receives regular inquiries from the public about financial scams. Generally, these calls are from unsuspecting people who ring us to find out if a document or letter they have received is legitimate. They want to know what to do about it and are ringing us for advice,” says spokesperson...

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Westpac capital requirements increased after breaching regulatory obligations

Release date 15 November 2017 Westpac New Zealand Limited (Westpac) has had its minimum regulatory capital requirements increased after it failed to comply with regulatory obligations relating to its status as an internal models bank. Internal models banks are accredited by the Reserve Bank to use approved risk models to calculate how much regulatory capital they need to hold. Westpac used a number of models that had not been approved by the Reserve Bank, and...

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