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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Financial policy remit

207: Safeguarding independence of Bank

You could also call this:

"Keeping the Reserve Bank Independent"

Illustration for Reserve Bank of New Zealand Act 2021

You know the Reserve Bank of New Zealand is an important organisation. The law says the Minister cannot tell the Bank what to do or not do in a specific situation. This helps keep the Bank independent, which means it can make its own decisions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS292987.

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Money and consumer rights > Banking and loansGovernment and voting > Government departments
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206: Review of financial policy remit, or

"Checking if the financial rules are working well"

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208: Power of Minister to direct Bank relating to minimum level of capital and financial risk management, or

"The Minister can direct the Reserve Bank on money and risk management."

Part 5Financial and accountability matters
Financial policy remit

207Safeguarding independence of Bank

  1. This subpart does not authorise the Minister to require the performance or non-performance of a particular act by the Bank, the Governor, or any employee or office holder of the Bank, or the bringing about of a particular result, in respect of a particular person.

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