RBNZ proposes tougher rules for bank outsourcing

reserve-bank-of-new-zealand
The Reserve Bank of New Zealand

Banks in New Zealand must be able to reopen at 9am the day after being placed under statutory management, with critical services intact, under new outsourcing guidelines published by the Reserve Bank of New Zealand (RBNZ).

On September 20, the RBNZ published a revised version of its outsourcing policy, whereby large banks will now be required to ensure a range of resolution options are available in the event of failure.

“The revised policy aims to ensure a bank can continue to operate in a

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