The Treasury will start consultations on the second phase of a revision of the Reserve Bank laws in November.
Monday, September 10, 2018, 5:57 PM
by Dan Dunkley
The consultation covers five topics, the main legislative objectives; board; separating prudential supervision from the RBNZ; keeper protection; and the regulatory scope of bank regulation.
Two more rounds will follow in 2019, with subjects such as supervision and enforcement, resolution and crisis management, macro-prudential policy, own funding and bank financing.
Earlier this year, besides the inflation target, the government added employment to the central bank's monetary policy mandate after the first phase of the evaluation.
On Friday, Minister of Finance Grant Robertson added three members to the independent advisory panel that monitored the assessment. Ex-ASB Bank head Barbara Chapman, Broadcasting Standards Authority head Belinda Moffat and former Chapman Tripp partner John Sproat joined the board.
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