12 September 2001

NZ banking system operating normally

The Reserve Bank said today that events in the US are not expected to disrupt New Zealand's payments systems through which banks in New Zealand undertake domestic and foreign transactions.

The Reserve Bank's standard liquidity provision facilities are available and are operating as normal.

Reserve Bank Governor Don Brash said "In terms of effects on the world economy, and therefore on the stance of monetary policy, the Reserve Bank is monitoring developments."

For further information contact
Paul Jackman
Corporate Affairs Manager
Ph 04 471 3671, 021 497 418, home 04 938 8177, Jackmanp@rbnz.govt.nz