RBNZ pushes back on IMF financial assessment
Central bank says it stands by its “three-pillar” approach to market discipline
The Reserve Bank of New Zealand (RBNZ) agrees with some elements of a recent financial stability assessment by the International Monetary Fund and says it is reviewing others, setting out its stance in a bulletin article on July 20.
The RBNZ operates a “three-pillar” approach to discipline – emphasising self-discipline and market discipline, as well as discipline imposed by regulators. In its recent financial sector assessment programme for New Zealand, the IMF recommends the central bank
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