Frequently asked questions
The Reserve Bank does not have shareholders. It is 100 percent owned by the New Zealand government, with any extra revenue that the Reserve Bank makes going back into the Crown accounts. The Reserve Bank is not a government department, but is a body corporate whose finances are included in the Crown accounts.
New Zealand Central Securities Depository Limited (NZCSD) is a wholly owned subsidiary of the Reserve Bank of New Zealand. NZCSD does not actually trade, but acts as the legal (registered) owner of securities that are beneficially owned by members of the NZClear real-time settlement system. Read more about NZClear and NZCSD.
Members of the NZClear system include banks, fund managers, custodians, trustee companies, investment funds and insurance companies etc. Currently the value of all securities in NZCSD’s name is $245 billion, including shares with a market value of about $50 billion.
The Reserve Bank and NZCSD do not have a beneficial interest in these securities, with the ownership rights and investment risk lying with the beneficial owners, who are free to deal with the securities in the system.
NZCSD is merely a custodian trustee which administers the shares on behalf of the beneficial owners, with the NZClear system allowing beneficial owners to electronically settle transactions of the securities that have been lodged into NZCSD’s name.
No. The Reserve Bank is the central bank of New Zealand and does not offer personal banking facilities. We suggest you contact a New Zealand registered bank or financial institution.
You can download a PDF of the booklet, which guides you through the different types of investment risk, explains why investment risk is not necessarily a bad thing, and gives tips on how to reduce risk.
From Statistics New Zealand. Their website contains a lot of useful information on New Zealand's balance of payments.