Regulation and supervision Financial Sector Assessment Programme

Financial Sector Assessment Programme

The International Monetary Fund (IMF) undertook a Financial Sector Assessment Programme (FSAP) for New Zealand in 2016, with the findings and recommendations released in May 2017. An FSAP is a comprehensive review of a country’s financial system, with a particular focus on the quality of financial sector regulation. The previous New Zealand FSAP was conducted over 2003-04.

The 2016 New Zealand FSAP included a review of the Reserve Bank’s set of financial sector responsibilities, as well as an assessment of changes in New Zealand’s approach to securities and market conduct regulation.

Go to the International Monetary Fund's website

20 July 2017

11 May 2017

IMF releases individual FSAP reports:

9 May 2017

8 May 2017

27 April 2016

23 June 2004

Regulatory news & updates

Nov 2018 Insurance

The Reserve Bank of New Zealand is satisfied that CUI Insurance Limited (formerly known as Credit Union Insurance Limited) is no longer carrying on insurance business in New Zealand according to the Insurance (Prudential Supervision) Act 2010 (the Act). At the request of CUI Insurance Limited, the licence issued to it on 01 April 2013 under section 19 of the Act was cancelled on 5 November 2018 pursuant to section 30(1) of the Act.

Nov 2018 Insurance

The Reserve Bank of New Zealand is satisfied that Sunderland Marine Insurance Company Limited is no longer carrying on insurance business in New Zealand according to the Insurance (Prudential Supervision) Act 2010 (the Act). At the request of Sunderland Marine Insurance Company Limited, the licence issued to it on 19 June 2013 under section 19 of the Act was cancelled on 1 November 2018 pursuant to section 30(1) of the Act.

Oct 2018 Banks

On 23 October 2018 the Reserve Bank published a consultation paper proposing changes to the reporting and publishing of breaches by banks.

Go to public disclosure of banks' breaches consultation page.

Aug 2018 Insurance

The Reserve Bank is holding insurer data workshops in Wellington on 24 September and Auckland on 25 September.

Read more about the workshops on the Insurer data workshops page.

Jul 2018 Insurance

The Reserve Bank of New Zealand is satisfied that FM Insurance Company Limited is no longer carrying on insurance business in New Zealand according to the Insurance (Prudential Supervision) Act 2010 (the Act). At the request of FM Insurance Company Limited, the licence issued to it on 28 June 2013 under section 19 of the Act was cancelled on 17 July 2018 pursuant to section 30(1) of the Act.