Reserve Bank of New Zealand
The Reserve Bank of New Zealand was established by the Reserve Bank of New Zealand Act 1933. It began business on August 1, 1934, and has been state-owned since April 1, 1936. The bank now operates under the Reserve Bank of New Zealand Act 1989. It is the sole bank of issue, operates settlement accounts, and is the regulator and supervisor for banks, nonbank deposit-takers and insurers. Since 1989, the bank has been responsible for formulating and implementing monetary policy. The
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