ZCZC
BCN-23
NEWZEALAND-FINANCIAL-SYSTEM
New Zealand financial system remains sound: report
WELLINGTON, Oct. 3, 2018 (BSS/Xinhua) – New Zealand’s financial system
remains sound and resilient, and the Reserve Bank is undergoing significant
innovation to prepare for the future, according to the bank’s annual report
2017-2018 released on Tuesday.
“Our recent priorities have included changes to our currency operations
model, our digital capability, both internally and with our payment systems,
our relationship management, our prudential responsibilities, and our
monetary policy targets and decision-making structures,” the Reserve Bank
Governor Adrian Orr said in a statement.
“No stone is being left unturned by these multi-year initiatives,” Orr
said, adding that highlights of the year include launching a world-leading
Bank Financial Strength Dashboard, enabling bank customers and investors to
monitor the financial health of banks.
Other highlights include initiating work, under the new Policy Targets
Agreement, on how best to contribute to maximizing sustainable employment in
the conduct of monetary policy; and jointly with the Financial Markets
Authority beginning a review of culture and conduct in the New Zealand
banking and insurance sectors.
BSS/XINHUA/HR/1230