Central Banking

Settlement system to remain in New Zealand

NEW ZEALAND - The Reserve Bank of New Zealand announced on Apr 18 that its plan to move the hardware used for inter-bank settlements in New Zealand to Sydney will not proceed because of a failure to agree terms with the Sydey Futures Exchange.

Below is the full text of a statement that appeared on the Reserve Bank's website on Apr 18:

The Reserve Bank today announced that its plan to move the hardware used for inter-bank settlements in New Zealand to Sydney will not proceed. Also terminated is