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Deposit Takers Act 2023

Miscellaneous - Trans-Tasman co-operation

439: Trans-Tasman co-operation

You could also call this:

"Working with Australia to keep their financial system stable"

Illustration for Deposit Takers Act 2023

When you look at how the Bank works with Australia, you see the Bank must support Australian financial authorities. The Bank helps them meet their responsibilities to keep the financial system in Australia stable. The Bank also tries not to do anything that might hurt Australia's financial system stability.

You can find more information about this by looking at the Reserve Bank of New Zealand Act 1989. The Bank has to work with Australia in a way that is reasonable and practical. This means the Bank tries to avoid doing things that might have a bad effect on Australia's financial system.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=LMS475676.

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Part 8Miscellaneous
Trans-Tasman co-operation

439Trans-Tasman co-operation

  1. When performing or exercising functions, powers, or duties under this Act or other prudential legislation, the Bank must—

  2. support Australian financial authorities in meeting their statutory responsibilities relating to prudential regulation and financial system stability in Australia; and
    1. to the extent reasonably practicable, avoid any action that is likely to have a detrimental effect on financial system stability in Australia.

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