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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Reporting obligations - Reporting: annual report

240: Form and content of annual report

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"What the Reserve Bank's annual report must include"

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The Reserve Bank of New Zealand must write an annual report each year. You will find information about the Bank's operations in the report. The report must include a statement of performance as outlined in section 243. The Bank's annual financial statements are also in the report, as required by section 244. You can read a statement of responsibility in the report, which follows section 246. The report includes an audit report, as outlined in section 247. The Bank must report on its financial risk management, following section 251. You can find information about any new directions given to the Bank by a Minister in the report. The report also includes information on the Bank's compliance with being a good employer. The Bank must provide information about payments to its members and employees, as required by section 242. You can read about the enforcement of certain natural person transactions in the report, as outlined in section 17(3). The report includes information about permission to act despite being interested in a matter, as required by section 68. The Bank must report on how it has complied with section 49, which is about the financial policy remit. You can find a statement about whether the Monetary Policy Committee has done its job properly in the report, as outlined in section 99. The report describes how the Bank has assessed this matter. The Bank must include the financial statements of the depositor compensation fund in the report, as required by subpart 9 of Part 6 of the Deposit Takers Act 2023. You can find any other information the Bank wants to report on in the annual report. The report must be in writing, dated, and signed by two members of the board.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS287287.

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Part 5Financial and accountability matters
Reporting obligations: Reporting: annual report

240Form and content of annual report

  1. An annual report must contain the following information and reports in respect of the financial year to which it relates:

  2. information on operations that complies with subsection (2); and
    1. a statement of performance in accordance with section 243; and
      1. the annual financial statements for the Bank in accordance with section 244; and
        1. a statement of responsibility in accordance with section 246; and
          1. the audit report in accordance with section 247; and
            1. the current statement of financial risk management in accordance with section 251; and
              1. any new direction given to the Bank by a Minister in writing under this Act or any other legislation during that financial year, as well as other such directions that remain current (subject to section 241); and
                1. information on compliance with its obligation to be a good employer (including its equal employment opportunities programme); and
                  1. information required by section 242 (which relates to payments in respect of members, the Governor, external members of the MPC, committee members, and employees during that financial year); and
                    1. information required by section 17(3) (which relates to the enforcement of certain natural person transactions); and
                      1. information required by section 68 (which relates to permission to act despite being interested in a matter); and
                        1. information about how the board has complied with section 49 (which requires the board to have regard to the financial policy remit when acting in relation to the Bank’s prudential strategic intentions and prudential standards); and
                          1. a statement as to whether, in the board’s opinion, the MPC and the members of the MPC have adequately discharged their respective responsibilities during the financial year (see section 99); and
                            1. a description of how the board has assessed the matter under paragraph (m); and
                              1. the financial statements of the depositor compensation fund, and the statement of responsibility and audit report for those statements, required under subpart 9 of Part 6 of the Deposit Takers Act 2023; and
                                1. any matters that relate to or affect the Bank’s operations that the Bank is otherwise required, or has undertaken, or wishes to report on in its annual report.

                                  1. The annual report must provide the information that is necessary to enable an informed assessment to be made of the Bank’s operations and performance for that financial year, including an assessment of the Bank’s progress in relation to its strategic intentions as set out in the most recent statement of intent.

                                  2. An annual report must be in writing, be dated, and be signed on behalf of the board by 2 members.

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                                  Notes
                                  • Section 240(1)(na): inserted, on , by section 484 of the Deposit Takers Act 2023 (2023 No 35).