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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Other accountability statements and reports - Statements of prudential policy

254: Obligation to prepare statements of prudential policy

You could also call this:

"The Bank must prepare and update rules on how it keeps the financial system safe."

Illustration for Reserve Bank of New Zealand Act 2021

The Bank has to prepare and keep up to date one or more statements of prudential policy. You can find a copy of the current statements on the Bank's Internet site. The Bank's statements must outline how the Bank acts when performing certain functions, like those mentioned in section 10(1)(b). The statements must also contain other information that the Minister reasonably requires.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS294922.

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253: Purposes of statements of prudential policy, or

"What the Reserve Bank does to keep banks and insurers safe"

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"The Reserve Bank checks how its rules affect people and reports back to the Minister."

Part 5Financial and accountability matters
Other accountability statements and reports: Statements of prudential policy

254Obligation to prepare statements of prudential policy

  1. The Bank must—

  2. prepare and keep up to date 1 or more statements of prudential policy; and
    1. publish a copy of the current statements on an Internet site maintained by, or on behalf of, the Bank.

      1. The statements under this section must—

      2. outline in general terms the Bank’s policies about how the Bank acts, or proposes to act, when performing the function under section 10(1)(b); and
        1. contain all other information reasonably required by the Minister.