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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Financial policy remit

203: Financial policy remit

You could also call this:

"The Minister's plan for the Reserve Bank's money decisions"

Illustration for Reserve Bank of New Zealand Act 2021

The Minister has to make a financial policy remit after talking to the Bank. You can find more information about what the Bank has to do with this remit in section 49. The Minister must make sure a financial policy remit is always in place.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287177.

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Money and consumer rights > TaxesGovernment and voting > Government departments
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202A: Consent to licence under Financial Markets Conduct Act 2013, or

"Bank's approval for a licence under the Financial Markets Conduct Act"

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204: Contents of financial policy remit, or

"What the Minister wants the Reserve Bank to think about when making financial decisions"

Part 5Financial and accountability matters
Financial policy remit

203Financial policy remit

  1. The Minister must, after consulting the Bank, issue a financial policy remit.

  2. See section 49, which requires the board to have regard to the financial policy remit when it is acting in relation to the Bank’s prudential strategic intentions and prudential standards.

  3. The Minister must take all reasonable steps to ensure that a financial policy remit is in force at all times.