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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Planning: statement of intent

217: Obligation to prepare statement of intent

You could also call this:

"The Reserve Bank must make a plan for what it wants to achieve and share it with the Minister."

Illustration for Reserve Bank of New Zealand Act 2021

The Reserve Bank of New Zealand must give a statement of intent to the Minister. You can think of a statement of intent as a plan for what the Bank wants to achieve. It must follow the rules in this section and in section 220. The plan must cover the next financial year and at least the three years after that. The Bank must give the Minister a new plan at least every three years. This helps the Minister understand what the Bank is planning to do.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287259.

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216: Purpose of statement of intent, or

"The Reserve Bank explains its plans to the public and the Government."

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218: Minister may require Bank to prepare new statement of intent at any time, or

"The Minister can ask the Reserve Bank to create a new plan at any time."

Part 5Financial and accountability matters
Reporting obligations: Planning: statement of intent

217Obligation to prepare statement of intent

  1. The Bank must provide to the Minister a statement of intent for the Bank that complies with this section and section 220.

  2. A statement of intent must relate to the forthcoming financial year and at least the following 3 financial years.

  3. The Bank must provide a statement of intent at least once in every 3-year period.

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