Open Bank Resolution (OBR) is a long-standing Reserve Bank policy aimed at allowing a distressed bank to be kept open for business, while placing the cost of a bank failure primarily on the bank’s shareholders and creditors, rather than the taxpayer.
On 11 April 2018, the Reserve Bank published a consultation document on its approach to allowing overseas banks to use restricted words (such as “bank” and “banking”) in New Zealand without being registered here as a bank.
On 29 March 2018, the Reserve Bank published updated versions of its working copies of the disclosure Orders in Council, to incorporate the changes that take effect from 31 March. A number of other web page changes were made at the same time, to reflect the fact that off-quarter disclosure statements are no longer required.
On 23 February 2018, following the gazetting of disclosure changes to complement the new Dashboard approach to quarterly disclosure, the Reserve Bank published a feedback statement on the consultation on the changes, and a regulatory impact statement for the combined effect of the Dashboard and the disclosure changes.
On 11 December 2017 the Reserve Bank published guidance for the preparation of a separation plan. The purpose of this document is to provide banks with guidance on how they should prepare their separation plan, as required under the revised Outsourcing Policy.