April 2013: The Reserve Bank has released information relating to deposit insurance, and alternative bank failure resolution options to Open Bank Resolution.
In June 2013, the Reserve Bank released the Open Bank Resolution (OBR) Pre-positioning Requirements Policy (BS17) (PDF 259KB) and the revised Statement of Principles (BS1) (PDF 350KB).
In November 2012, the Reserve Bank published a response to the submissions (PDF 137KB) a regulatory impact assessment (PDF 251KB) and a summary assessment of OBR against the recommendations of the Financial Stability Board.
In March 2011, the Reserve Bank issued a consultation paper (PDF 146KB) on the pre-positioning requirements that locally incorporated banks with retail deposits over $1 billion will be expected to comply with to implement the Open Bank Resolution (OBR) policy. The OBR policy would allow a distressed bank to be kept open for business, providing continuity of core banking services to retail customers and businesses, while placing the cost of a bank failure primarily on the bank’s shareholders and creditors rather than the taxpayer. The consultation closed on 30 September 2011.