Reserve Bank - Latest News [Page 1]

Reserve Bank Of New Zealand Making Good Progress On Addressing Data Breach

Friday, 22 January 2021, 1:05 pm | Reserve Bank

The Reserve Bank of New Zealand – Te Pūtea Matua investigation into the malicious illegal breach of a third-party file sharing application has significantly progressed. Governor Adrian Orr says the investigation remains the Bank’s highest priority, ... More >>

Reserve Bank Of New Zealand Committed To Action As It Responds To Data Breach

Friday, 15 January 2021, 2:06 pm | Reserve Bank

The Governor of the Reserve Bank of New Zealand, Adrian Orr, says the recent malicious and illegal breach of a file sharing application used by the Bank is significant, and has our full attention. Mr Orr says New Zealand’s financial system and institutions ... More >>

Reserve Bank Response To Illegal Breach Of Data System

Monday, 11 January 2021, 5:54 pm | Reserve Bank

The Reserve Bank of New Zealand – Te Pūtea Matua continues to respond with urgency to a breach of a third party file sharing service used to share information with external stakeholders. Governor Adrian Orr says the breach is contained, but it will ... More >>

Reserve Bank's Response To Minister Of Finance

Friday, 11 December 2020, 11:11 am | Reserve Bank

The Reserve Bank of New Zealand – Te Pūtea Matua – has this morning published its detailed response to the letter from the Minister of Finance, Hon Grant Robertson sent on 24 November 2020. A copy of the Bank’s response is available on the Reserve ... More >>

Reserve Bank Issues Formal Directions To Pacific International Insurance

Thursday, 3 December 2020, 10:00 am | Reserve Bank

The Reserve Bank of New Zealand – Te Pūtea Matua has today issued formal directions to Pacific International Insurance Pty Limited following repeated failings with its regulatory reporting. The directions were made under section 143 of the Insurance ... More >>

Reserve Bank Invites Feedback On Scope Of Insurance Act And Structure Of Solvency Standards

Monday, 30 November 2020, 2:42 pm | Reserve Bank

The Reserve Bank – Te Pūtea Matua is today launching dual consultations on the scope of the Insurance Prudential Supervision Act (IPSA) 2010 and associated Insurer Solvency Standards. Prudential regulation of insurers aims to ensure that insurance ... More >>

Reserve Bank To Assess ESAS Outage

Monday, 30 November 2020, 2:07 pm | Reserve Bank

Transactions are now flowing through the Reserve Bank of New Zealand’s Exchange Settlement Account System (ESAS) after an outage this morning. The Reserve Bank is now looking into the cause of the outage. ESAS allows individual transactions between ... More >>

South Pacific Central Bank Governors' Committed To Cost Effective Remittances

Friday, 20 November 2020, 3:50 pm | Reserve Bank

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 ... More >>

Reserve Bank Reviewing Internal Information Processes

Wednesday, 18 November 2020, 4:03 pm | Reserve Bank

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 ... More >>

Further Regulatory Steps To Promote Cashflow Confidence And Stability

Wednesday, 11 November 2020, 8:50 am | Reserve Bank

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 ... More >>

RBNZ Signs ISDA’s IBOR Fallbacks Protocol

Friday, 30 October 2020, 10:10 am | Reserve Bank

The Reserve Bank of New Zealand – Te Pūtea Matua has signed the ‘IBOR Fallbacks Protocol’ published by the International Swaps and Derivatives Association (ISDA). As a market participant, this is an important step for the Bank to support an effective ... More >>

Progressing Climate Action By Driving Transformational Change

Wednesday, 28 October 2020, 11:20 am | Reserve Bank

Addressing the risks of climate change requires broad transformational change, Reserve Bank Governor Adrian Orr says. In a speech delivered today at the Pacific Ocean Pacific Climate Conference, Mr Orr reflected on the need for transformational change, as ... More >>

Working Together To Support Economic Recovery, Strengthen Resilience, And Develop Culture

Thursday, 22 October 2020, 9:37 am | Reserve Bank

Collaboration and understanding between regulators and the financial institutions they oversee is increasingly critical as our economy responds and recovers from the COVID-19 pandemic, Reserve Bank Assistant Governor and General Manager for Governance, ... More >>

Reserve Bank Releases Guidance To Help Build Cyber Resilience

Tuesday, 20 October 2020, 10:08 am | Reserve Bank

The Reserve Bank – Te Pūtea Matua is today releasing draft guidance on what regulated entities should consider when managing cyber resilience. The cyber world has long been recognised as a significant source of operational risk for financial institutions, ... More >>

Reserve Bank Seeks To Preserve Benefits Of Cash

Monday, 19 October 2020, 2:15 pm | Reserve Bank

The Reserve Bank – Te Pūtea Matua is taking on a new role of steward of the cash system “to preserve the benefits of cash for all who need them”, Assistant Governor Christian Hawkesby told the Royal Numismatics Society of New Zealand annual conference ... More >>

Maintaining Monetary And Financial Stability And Delivering On Our Commitments

Thursday, 1 October 2020, 2:27 pm | Reserve Bank

The Reserve Bank of New Zealand – Te Pūtea Matua – is committed to maintaining the soundness of New Zealand’s financial system and supporting economic recovery through unanticipated and unprecedented challenges. “We take our commitment as ... More >>

Reserve Bank Relaunches Insurance Act Review

Thursday, 1 October 2020, 10:16 am | Reserve Bank

The Reserve Bank – Te Pūtea Matua is today relaunching the review of the Insurance (Prudential Supervision) Act (IPSA), and commencing a review of the associated Insurer Solvency Standards. IPSA Review The IPSA review was deferred due to work on the Reserve ... More >>

Stress Test Reinforces Importance Of Bank Capital

Thursday, 17 September 2020, 2:07 pm | Reserve Bank

The Reserve Bank’s – Te Pūtea Matua – latest stress test of New Zealand’s banks illustrates the benefit and necessity of shoring up bank capital in the good times to provide resilience. The COVID-19 pandemic has demonstrated that large shocks ... More >>

Same Objectives, Different Challenges

Wednesday, 2 September 2020, 12:37 pm | Reserve Bank

The Reserve Bank’s goals of monetary and financial stability, and team values and capabilities, put it in good stead to manage the evolving economic consequences of the global COVID-19 pandemic. “There is no precedent for an economic shock of ... More >>

Changes To Term Lending Facility

Thursday, 20 August 2020, 3:28 pm | Reserve Bank

In conjunction with the Government’s review of the Business Finance Guarantee Scheme, the Reserve Bank today outlined the revised operational details of the Term Lending Facility (TLF). Under the revised facility, the Reserve Bank will continue ... More >>