The Reserve Bank today left the Official Cash Rate (OCR) unchanged at 1.75 percent.
An upcoming review of the framework for banks’ capital requirements will aim to enhance the soundness and efficiency of the New Zealand banking system, Reserve Bank Deputy Governor Grant Spencer said today.
Risks around future Official Cash Rate movements are equally weighted, reflecting balanced risks around inflation, Reserve Bank Governor Graeme Wheeler said today in a speech.
The Reserve Bank will continue to engage with stakeholders about its proposed ‘Dashboard’ approach to quarterly disclosure for locally incorporated banks.
Reserve Bank senior adviser, Leo Krippner, has won a prestigious international economics award for his work on yield curve modelling with a lower bound for interest rates.
The current outsourcing requirements date back to 2006 and apply to all locally incorporated banks whose New Zealand liabilities exceed $10 billion. The current policy is mainly focused on underpinning the provision of liquidity to the financial system in the event of stress or failure of a bank or of a service provider to a bank. While these objectives are still valid, it is good practice to review policies from time to time, in particular as the regulatory landscape has changed over the last nine years.
The Dashboard is an outgrowth of the Regulatory Stocktake, and would involve publication on the website of key information on locally incorporated banks. By presenting this information in one place and in a standardised format, the Dashboard aims to enhance market discipline by making this information more accessible and facilitating comparisons across banks.
The dual registration policy for small foreign banks consultation proposes a way to assess whether these banks may be permitted to ‘dual-register’, simultaneously operating a local branch alongside a subsidiary.
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|29 Mar 2017||Monetary Policy Challenge - last day to submit entry forms|
|11 May 2017||OCR announcement and Monetary Policy Statement media conference|
|31 May 2017||Financial Stability Report media conference|
|22 Jun 2017||OCR announcement|
|1 Aug 2017||Deadline for paper submission for Housing, household debt and policy|
|10 Aug 2017||OCR announcement and Monetary Policy Statement media conference|
|28 Sep 2017||OCR announcement|
|9 Nov 2017||OCR announcement and Monetary Policy Statement media conference|
|29 Nov 2017||Financial Stability Report media conference|
|11-12 Dec 2017||Housing, household debt and policy|
For statistics publication dates see the Statistics release calendar