Reserve Bank of New Zealand Bulletin articles

(NB. If you do not have the free Acrobat reader software necessary to read these discussion papers already installed, go to the Adobe website.)

June 2003 (Vol 66, no 2)

June 2003 (Vol 66, no 2)

Download the complete issue of the June 2003 bulletin (PDF 204KB)

Articles

Editor's Note (PDF 15KB)

Developments in the New Zealand banking industry (PDF 67KB)

By Andrew Rodgers
This article reviews developments in the New Zealand banking industry over the year ended December 2002. It discusses some of the structural developments in the banking system, policy initiatives in the banking supervision area, and the financial condition of registered banks. Given the importance of the Australian banking system to New Zealand, the article also includes a discussion of the Australian banking system, with particular focus on the major Australian banks. The information available on the New Zealand and Australian banking systems suggests that both systems continue to perform strongly. For an assessment of the non-bank financial sector in New Zealand, the reader is referred to the companion article in this Bulletin: "Financial intermediation beyond the banks: recent developments"

Financial intermediation beyond the banks: recent developments (PDF 51KB)

Download annual agricultural credit series data (Excel 22KB)

By Clive Thorp
The New Zealand financial system is dominated by banks, whose assets are well over 90 per cent of those of all deposit-taking institutions. Banking groups also own funds management businesses with more than a quarter of all funds under management. However, the activities of savings institutions, finance companies, the non-institutional market and independent fund managers are important, notwithstanding their relatively reduced role. This article discusses developments in non-bank financial institutions and markets over recent years.

Monetary policy communication and uncertainty (PDF 46KB)

By Tim Hampton, Renee Philip and Dominick Stephens
Central banks have become progressively more transparent in explaining to the public the rationale for a given monetary policy decision, often using economic projections as a vehicle for explaining policy issues. Nevertheless, increased transparency poses potential risks, particularly if the uncertainty around projected outcomes is not communicated in a way that avoids misleading readers. This article describes a number of the options available to central banks for communicating uncertainty.

Speech

Corporate governance in the financial sector (PDF 34KB)

Alternatively, link to the html version of this speech by Dr Alan Bollard.