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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Other accountability statements and reports - Financial risk management

250: Purposes of statement of financial risk management

You could also call this:

"How the Reserve Bank manages its money and handles financial risks"

Illustration for Reserve Bank of New Zealand Act 2021

The statement of financial risk management has several purposes. You can think of it as a report that shows how the Bank is managing its money. It helps make sure the Bank is being responsible with its finances, as explained in section 47. The report also talks about how the Bank handles financial risks and makes sure the Bank is accountable for its actions.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS294195.

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Money and consumer rights > Banking and loansGovernment and voting > Government departments
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249: Minister of Finance may require additional reporting, or

"The Minister of Finance can ask banks to provide extra information in reports."

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251: Obligation to prepare statement of financial risk management, or

"The Bank must prepare a statement on how it manages financial risks."

Part 5Financial and accountability matters
Other accountability statements and reports: Financial risk management

250Purposes of statement of financial risk management

  1. The purposes of the statement of financial risk management are to—

  2. report on matters relating to the board’s duty to ensure that the Bank operates in a financially responsible manner (see section 47); and
    1. report on the Bank’s management of financial risks; and
      1. ensure the accountability of the Bank for its management of those risks; and
        1. provide for principles for determining the Bank’s annual dividend; and
          1. facilitate the role of the monitor.