Outsourcing Policy
1 April 2009
The Reserve Bank said today it has now reached agreement with the Bank of New Zealand on achieving compliance with the Reserve Bank’s outsourcing policy. All large banks are now either in compliance with this policy or are on a path to full compliance. This policy is aimed at ensuring that large banks operate with adequate legal and practical control over their core functions, enables the Reserve Bank to manage a crisis, and preserves options over the resolution of large bank failures.
18 January 2006
The Reserve Bank issued its policy on outsourcing by banks. The finalised policy takes account of feedback received on drafts that were released for comment in November 2004 and October 2005.
Outsourcing Policy BS11 – January 2006 (PDF 45KB)
Outsourcing Policy: Questions and Answers
Development of the outsourcing policy
4 October 2005
On 4 October 2005, the Reserve Bank issued a draft policy on the requirements applying to large New Zealand banks entering into outsourcing arrangements. The draft policy incorporated revisions following feedback received on earlier proposals released for public comment in November 2004. The accompanying press release is available here.
The draft policy that was issued on 4 October 2005 is available here (PDF 218KB).
2 November 2004
The Reserve Bank sought feedback on initial outsourcing policy proposals in a consultation paper released in November 2004. The accompanying press release is available here.
