New Zealand
RBNZ targets Auckland with new macro-prudential plans
Central bank wants to impose stricter macro-prudential rules on lending to property investors in Auckland; will also force banks to hold more capital against those loans from October
Bank of Portugal ‘unprecedented’ decision over BES split questioned in lawsuit
Central bank’s decision to remove a loan from Oak Finance to BES from the ‘good bank’ created in the wake of its failure is challenged in court by New Zealand Superannuation Fund
RBNZ hires monetary policy advisers as inflation drops to 15-year low
Graeme Wheeler says advisers ‘bring fresh viewpoints'; assistant governor says monetary policy can do little to influence inflation outcomes in ‘near term'
RBNZ deputy calls for action on housing imbalances
Grant Spencer says changes to tax treatment of housing should be considered, while he identifies apartment development as the best prospect for boosting supply in the short term
Risks in commercial property have fallen, RBNZ research finds
Article in latest RBNZ bulletin finds less leverage is being used to fund new purchases and developments, while market is showing signs of a ‘robust’ recovery
Bascand says RBNZ more alert to risks
Deputy governor says new risk management framework has improved central bank’s ability to deal with risk; discusses reserves management policy and ‘open relationship’ with government
RBNZ deputy to chair OECD financial market committee
Grant Spencer, head of financial stability at the New Zealand central bank, has been selected to head up one of the organisation's top committees
Wheeler: RBNZ will ‘talk more’ about housing
The Reserve Bank of New Zealand will focus on the market in coming months, Wheeler says, with house price inflation ‘increasing again’ in Auckland
Central bank of the year: Reserve Bank of New Zealand
A joined-up approach to monetary and macro-prudential policy, excellence in communication and governance, updated risk management, improved supervision and security made the RBNZ the standout central bank
RBNZ takes next step towards replacing settlement systems
The Reserve Bank of New Zealand is seeking registrations of interest from potential vendors to replace its current payment and settlement systems, NZClear and Esas
New Zealand’s banknotes get first upgrade since 1999
Reserve Bank unveils a ‘brighter, more modern look’ for its banknotes, and a host of new security features; net cost will be NZ$40 million over five years
RBNZ not ready to ease LVR speed limit
Graeme Wheeler welcomes falling house price inflation, but is wary of a potential ‘resurgence’ on the back of strong immigration flows; keeps speed limit in place for now
Wheeler says NZ dollar strength is ‘unjustified and unsustainable’
Central bank governor outlines cost of high exchange rate but says NZ dollar is ‘susceptible to a significant downward adjustment over the coming six to nine months’
New Zealand SWF to invest in catastrophe reinsurance
Catastrophe insurance's strong liquidity and cyclical nature makes it a good fit for New Zealand sovereign wealth fund, investment strategist tells Central Banking conference
New Zealand mulls coloured coins
Geoff Bascand reveals details about the RBNZ’s forthcoming banknote series; suggests new technologies could ‘supplant cash’ in years to come
RBNZ weighs ‘European presence' to aid reserve management
Reserve Bank of New Zealand says it will review whether a full-time European presence will improve returns on forex reserves; outlines plans to replace vaults
RBNZ deputy ‘very satisfied’ with risk management review
Geoff Bascand praises the Reserve Bank of New Zealand’s enterprise risk management framework, which he says is a ‘powerful tool’ that will drive innovation across the central bank
People: Czech comms head moves to general secretariat; RBNZ board names new member
Czech National Bank appoints Marek Petruš to head general secretariat; Tania Simpson named as RBNZ director; New Zealand SWF gets new CIO; Bank of Russia Moscow head on the move
RBNZ remains uncomfortable with house prices
Reserve Bank of New Zealand will maintain its ‘speed limit’ on mortgage lending with high loan-to-value ratios until the housing markets ‘comes into better balance’
New Zealand securities settlement system could go private
Reserve Bank of New Zealand issues public consultation on future of two major settlement systems; NZClear could be separated from Esas and moved into private sector
RBNZ’s Wheeler threatens currency intervention
Graeme Wheeler spells out the Reserve Bank of New Zealand’s concern over its ‘overvalued’ currency, and says the central bank would consider intervening
New Zealand’s loan restrictions finding their mark
Banks are reigning in their high loan-to-value ratio loans in response to central bank’s macro-prudential measures; IMF backs ‘tight limits’
New Zealand champions coordination of monetary and macro-prudential policy
Reserve Bank of New Zealand deputy governor says there is an ‘appropriate role’ for coordination if both policy arms retain ‘clear primary objectives’
RBNZ signals impending rate rise
Reserve Bank of New Zealand says it expects to increase the OCR ‘soon’ as inflationary pressures look set to increase over the next two years; today’s rate hold surprises markets