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The Reserve Bank of New Zealand - Latest News [Page 6]
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 >>
Financial System Sound, And Reserve Bank Providing Additional Support
Monday, 16 March 2020, 8:55 am | The Reserve Bank of New Zealand
New Zealand’s financial system is sound, with strong capital and liquidity buffers, but faces significant uncertainties from the impacts of COVID-19. The Reserve Bank is announcing additional measures to support the provision of credit and market functioning. ... More >>
OCR Reduced To 0.25 Percent For Next 12 Months
Monday, 16 March 2020, 8:51 am | The Reserve Bank of New Zealand
The Official Cash Rate (OCR) is 0.25 percent, reduced from 1.0 percent, and will remain at this level for at least the next 12 months. The negative economic implications of the COVID-19 virus continue to rise warranting further monetary stimulus. Since ... More >>
