RBNZ releases blueprint for macro-prudential tools


The Reserve Bank of New Zealand (RBNZ) has outlined the four-step process it will use to determine when and how it implements macro-prudential policy, after it was given the go-ahead by the minister of finance to bolster its toolkit with four new macro-prudential instruments.

The first stage of the new policy framework, published on Friday, is a systemic risk assessment that will focus on whether debt levels and asset price imbalances "are, or are likely to become, excessive" and whether lending

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