Active policy development
We are seeking feedback on some of the consultations listed in this section. Documents for open consultations include instructions on how to have your say, and the closing dates for responses.
You can also find consultations in this section that are closed for responses but where the Reserve Bank is still analysing the feedback that has been provided.
Open consultations and policy under development
In October 2020, the Reserve Bank commenced a Review of Insurance Solvency Standards. The review will be guided by a timeline and principles exposed for feedback in an initial consultation paper. The first stage of the review will deal with potential amendments to the standards in light of recent reviews of regulation and supervision, as well as the upcoming introduction of IFRS 17 – Insurance Contracts.
In April 2016, the Reserve Bank released the Terms of reference for a review of the Insurance (Prudential Supervision) Act 2010 (IPSA). The Reserve Bank considers that the current legislative purposes of IPSA remain appropriate. The review will therefore be undertaken in the context of these purposes being to promote the maintenance of a sound and efficient insurance sector and promote public confidence in the insurance sector.
Please note that the Reserve Bank suspended active work on this Review from April 2018 following a careful prioritisation exercise. This will be reviewed regularly and work will resume in due course.