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Reserve Bank of New Zealand Act 2021

Financial and accountability matters - Other accountability statements and reports - Assessment of regulatory impacts of policies

256: Content of assessment of proposed policy

You could also call this:

"What to include when checking a new policy"

Illustration for Reserve Bank of New Zealand Act 2021

When you assess a proposed policy, you must include some key things. You need to outline the problem the policy is trying to fix. You also need to state what the policy is trying to achieve. You have to think about the costs and benefits of the policy. You must also consider other ways to achieve the policy's objectives. You need to explain how you will check if the policy is working. You must say how you considered the financial policy remit when making the policy. You also need to describe any discussions you had with people interested in the policy and how you considered their views.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS295096.

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Part 5Financial and accountability matters
Other accountability statements and reports: Assessment of regulatory impacts of policies

256Content of assessment of proposed policy

  1. An assessment of the expected regulatory impacts of any proposed policy must include—

  2. an outline of the problem or issue that the policy is intended to address:
    1. the objectives of the policy:
      1. an evaluation of the costs and benefits of the policy:
        1. an evaluation of alternative means of achieving the objectives of the policy:
          1. a statement of the Bank’s proposed approach to monitoring and evaluating the effectiveness of the policy:
            1. a statement that explains how the board has had regard to the financial policy remit in preparing the proposed policy:
              1. a description of any consultation or other engagement the Bank has had with interested persons in relation to the policy and an explanation of how the Bank has had regard to any views expressed.