Reserve Bank of New Zealand (RBNZ)
A vaccine for the global economy
Olivier Blanchard, Peter Praet and Daniel Alpert discuss shorter- and longer-term actions to tackle the flaws exposed by the Covid-19 crisis
RBNZ launches $30bn government bond-buying programme
MPC asked to vote on package via email to ensure social distancing
RBNZ delays new capital rules
Central bank defers start date until 2021 and slows down other regulatory reviews
RBNZ reduces rates by 75bp in emergency meeting
Central bank says future purchases of government bonds preferable to lower rates
RBNZ prepares unconventional policy tools
Central bank is not planning to use them yet, governor stresses
RBNZ launches new settlement platform
Platform includes interbank settlement system and central securities depository
Cyber risks cost 2-3% of profits at banks and insurers – RBNZ research
New Zealand central bank finds chance these threats may cause much greater losses
RBNZ governor: lawmakers must help preserve cash access
New Zealand governor says industry and politicians must respond to the rise of “less cash” society
Climate-related disclosures should be mandatory – RBNZ official
Assistant governor says firms should not be allowed to “cherry pick” what disclosures they make
Coronavirus contagion risk prompts central bank action
Asian central banks deploy contingency plans and tell banks to minimise risk of virus spread
RBNZ updates external whistleblower policy
Central bank will not deal with personal workplace issues and is encouraging the use of internal processes where possible
Transparency: Reserve Bank of New Zealand
Publication of new MPC handbook and minutes increases RBNZ’s openness
RBNZ economists look to improve GDP statistics
“GDPplus” has several advantages over standard GDP statistics, authors say
RBNZ supports plan for ‘fallback’ benchmark rate
New Zealand’s benchmark rate-setting body selects the central bank’s policy rate as fallback option
KYC initiative could help stem correspondent banking decline
South Pacific KYC utility will be based on digital identification databases; decisions on minimum data requirement yet to be made
New Zealand launches next phase of RBNZ governance overhaul
RBNZ gains new governance board and formal financial stability remit
RBNZ to impose 18% capital ratio on big banks
Central bank finalises plans for substantial increase in minimum capital requirements
Swedish MPs propose dual mandate for Riksbank
Proposals aim to redefine institution’s role in monetary policy, financial stability and payments, while enhancing independence
New Zealand’s life insurers failing to improve conduct risk management – Orr
RBNZ “underwhelmed” by response from life insurers to conduct recommendations
‘More effort’ needed to protect financial stability – RBNZ’s Orr
Central bank determined to raise capital requirements and improve behaviour in finance
RBNZ sanctions bank over capital calculation errors
Bank of New Zealand appears to have misreported risk weights for several years
People: French official becomes ECB’s market operations director
RBNZ replaces assistant governor role in main office with Auckland post; World Bank’s investment arm gets new managing executive officer
A spotlight on IPSAS Draft 69
Proposed accounting guidance for specific instruments by the Public Sector Accounting Standards Board may have significant implications for central banks
RBNZ may raise insurance firms’ solvency levels
Governor expects review of insurers will lead to “series of thresholds”