The Reserve Bank of New Zealand - Latest News [Page 1]

Prolonged Monetary Support Necessary

Wednesday, 23 September 2020, 2:00 pm | The Reserve Bank of New Zealand

Tēnā koutou katoa, welcome all. The Monetary Policy Committee agreed to continue with the Large Scale Asset Purchase (LSAP) Programme up to $100 billion. This action is necessary to further lower household and business borrowing rates in order to ... More >>

Embracing Te Ao Māori At Te Pūtea Matua

Tuesday, 22 September 2020, 12:24 pm | The Reserve Bank of New Zealand

Te Ao Māori i Te Pūtea Matua Ko Mahuru Māori te wā hai whakanui, hai whakatairanga i Te Reo Māori me ngā tikanga Māori. He wā hoki hai whakaputa rauemi hai whakamahinga mā Aotearoa whānui mō te katoa o te tau. E pēnei ana te aronga a Te Pūtea Matua, ... More >>

Work On Insurance Act Review Resumes

Monday, 14 September 2020, 2:11 pm | The Reserve Bank of New Zealand

The Reserve Bank – Te Pūtea Matua will be relaunching the review of the Insurance (Prudential Supervision) Act (IPSA) in October. The review began with an industry consultation in 2017 and was set to resume in March this year, but was delayed in-line ... More >>

Has The Reserve Bank Responded Differently To Upturns & Downturns In Inflation & Economic Activity?

Wednesday, 9 September 2020, 10:35 am | The Reserve Bank of New Zealand

This analytical note examines whether the Reserve Bank has responded differently to upturns and downturns in inflation and economic activity. The paper finds that in normal times a small movement in inflation away from the 2 percent mid-point target ... More >>

RBNZ To Lead Asia-Pacific Central Banks Working Group

Friday, 21 August 2020, 9:19 am | The Reserve Bank of New Zealand

The Reserve Bank of New Zealand has been appointed chair of an international central bank working group for the next two years. In its virtual meeting on Wednesday, the Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) announced that the ... More >>

Transparency And Disclosure Critical To COVID-19 Response

Monday, 3 August 2020, 2:20 pm | The Reserve Bank of New Zealand

Transparency and clear disclosure of actions and policies have been key to the COVID-19 response, Reserve Bank Head of Financial System Policy and Analysis Toby Fiennes said delivering a speech in Wellington today. Market discipline is one of the three ... More >>

Reserve Bank Welcomes New Funding Agreement

Friday, 26 June 2020, 4:44 pm | The Reserve Bank of New Zealand

The Minister of Finance has agreed with the Reserve Bank Governor a new five-year funding agreement which will ensure Te Pūtea Matua (the Reserve Bank of New Zealand) has adequate resources to meet its increasing responsibilities and the expectations ... More >>

Reserve Bank Approves Sale Of AMP Life

Tuesday, 23 June 2020, 9:53 am | The Reserve Bank of New Zealand

The Reserve Bank has approved the proposed sale of AMP Life to Resolution Life, in a revised arrangement that is subject to a number of conditions imposed to protect policyholders. The Reserve Bank has been reviewing the proposed transaction and consulting ... More >>

Reserve Bank Supports Global Call To Action On Remittances

Friday, 19 June 2020, 12:11 pm | The Reserve Bank of New Zealand

The Reserve Bank of New Zealand is supporting a worldwide multi-stakeholder appeal to keep and improve migrants’ access to remittance or money transfer services during the current economic crisis brought about by the COVID-19 pandemic. Led by the Governments ... More >>

Reserve Bank Releases Thematic Review Of Appointed Actuary Role

Thursday, 11 June 2020, 10:14 am | The Reserve Bank of New Zealand

The Reserve Bank has released a number of recommendations in a comprehensive review of the Appointed Actuary role. Appointed Actuaries have a critical legislated role in the insurance industry to measure and report on material risks that can threaten ... More >>

Reserve Bank Removes LVR Restrictions For 12 Months

Thursday, 30 April 2020, 4:49 pm | The Reserve Bank of New Zealand

The Reserve Bank has today decided to remove mortgage loan-to-value ratio (LVR) restrictions for 12 months. The decision was made to ensure LVR restrictions didn’t have an undue impact on borrowers or lenders as part of the mortgage deferral scheme ... More >>

Expanded Large Scale Asset Purchases

Tuesday, 7 April 2020, 3:37 pm | The Reserve Bank of New Zealand

The Reserve Bank of New Zealand has added $3 billion of Local Government Funding Agency (LGFA) debt to its Large Scale Asset Purchase programme (LSAP). This represents approximately 30 percent of the total LGFA debt on issue, and takes the total size ... More >>

Mahi Tahi: Working Together To Ensure Cash-flow And Confidence

Monday, 30 March 2020, 2:44 pm | The Reserve Bank of New Zealand

Te Pūtea Matua – the Reserve Bank of New Zealand - is working closely with the whole of government and industry to ensure financial stability. “In these difficult times we are working to ensure New Zealanders are confident in their financial system, ... More >>

Corporate Facility Another Step To Support Market Functioning

Monday, 30 March 2020, 8:22 am | The Reserve Bank of New Zealand

The Reserve Bank is deploying another tool to provide additional liquidity to the corporate sector, and support smooth market functioning. A new weekly Open Market Operation (OMO) will provide liquidity in exchange for eligible Corporate and Asset-Backed ... More >>

COVID-19 Level 4 Essential Services – Financial Sector

Wednesday, 25 March 2020, 4:00 pm | The Reserve Bank of New Zealand

Following the government announcement that COVID-19 Level 4 alert will be introduced from 11.59pm on 25 March only essential services will be permitted to remain open at a central place of business. The Government determined that financial services ... More >>

Mortgage Holiday And Business Finance Support Schemes To Cushion COVID Impacts

Tuesday, 24 March 2020, 4:24 pm | The Reserve Bank of New Zealand

News release issued by the Minister of Finance The Government, retail banks and the Reserve Bank are today announcing a major financial support package for home owners and businesses affected by the economic impacts of COVID-19. The package will ... More >>

RBNZ To Implement $30bn Large Scale Asset Purchase Programme Of NZ Govt Bonds

Monday, 23 March 2020, 8:18 am | The Reserve Bank of New Zealand

The Monetary Policy Committee (MPC) has decided to implement a Large Scale Asset Purchase programme (LSAP) of New Zealand government bonds. The negative economic implications of the coronavirus outbreak have continued to intensify. The Committee ... More >>

The Reserve Bank Is Committed To Ensuring Smooth Market Functioning

Friday, 20 March 2020, 8:37 am | The Reserve Bank of New Zealand

New Zealand’s financial system remains sound, with strong capital and liquidity buffers. Assistant Governor Christian Hawkesby said the Reserve Bank is actively involved in financial markets to ensure smooth market functioning despite the global ... More >>

Cash And Other Payments Systems Ready For COVID-19

Thursday, 19 March 2020, 3:52 pm | The Reserve Bank of New Zealand

“The Reserve Bank and the banking system have plenty of cash on hand to meet demand under any circumstances,” says Assistant Governor Christian Hawkesby. Mr Hawkesby made the statement today after public interest and discussion about cash availability ... More >>

Regulatory Relief To Provide Headroom For Customer-focus And Risk Management

Wednesday, 18 March 2020, 2:04 pm | The Reserve Bank of New Zealand

The Reserve Bank will delay or slow down most of its regulatory initiatives for an initial period of six months. This action is being taken to reduce the regulatory impost on financial institutions and free up Reserve Bank and industry resources ... More >>