Otto Niemeyer's 1931 report on Banking and Currency in New Zealand

Release date
February 1931
In July 1930 Otto Niemeyer of the Bank of England was asked by the Prime Minister of New Zealand to report on ‘Banking and Currency in New Zealand’. His report, tabled before Parliament in 1931, recommended that New Zealand should establish a central bank. In the appendix to the report, Niemeyer provided a seven-page draft Bill to institute the Reserve Bank. The actual Reserve Bank of New Zealand Act was first legislated in 1933, and the Bank came into existence in 1934.