Reserve Bank of New Zealand (RBNZ) Governor Adrian Orr is out with an article on the RBNZ’s role in maintaining a healthy banking environment.
Key quotes
“A key task of the Reserve Bank is to promote a sound and efficient financial system.
An important part of our financial ecosystem are New Zealand registered banks.
New Zealand’s financial ecosystem has been remarkably robust over recent decades but it is not immune to threats.
The general public hear plenty of noise from these institutions and local commentators as to whether we are doing too much, or too little, too often. The noise is confusing to the non-expert.
Our most innovative step in transparency is the pending launch of our Bank Financial Strength Dashboard on 30 May.
Our challenge is to ensure everyone gets treated fairly based on their specific activities and risk characteristics – to ensure New Zealanders continue to benefit from a global-class banking system.
Recent bankers’ complaints about our activities tend to focus on three issues: NZ-specific capital, the role of attestation requirements, and the need to prove their ability to resolve a bank failure inside the legal and fiscal bounds of New Zealand.
These are all part of doing business here in New Zealand.”
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