Market discipline ‘key pillar’ of RBNZ toolkit, article says
New requirements have not come at the expense of market discipline
Regulatory requirements introduced in the wake of the financial crisis "have not come at the expense of market discipline", according to an article published by the Reserve Bank of New Zealand (RBNZ) today (February 4).
In the article, published in the RBNZ's latest bulletin, Cavan O'Connor-Close and Neroli Austin insist market discipline is a "key pillar" in the central bank's regulatory toolkit.
The RBNZ's regulatory regime is based on the three pillars of regulatory, self and market
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