New Zealand: Financial Sector Assessment Program: Technical Note-Macroprudential Institutional Framework and Policies

May 10, 2017

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Format: Chicago

New Zealand: Financial Sector Assessment Program: Technical Note-Macroprudential Institutional Framework and Policies, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

This Technical Note assesses the macroprudential institutional framework and policies in New Zealand. New Zealand has a strong institutional framework for macroprudential policy. This framework is based on a clear mandate for financial stability operationally clarified by a memorandum of understanding. The Reserve Bank of New Zealand is the single prudential regulator with responsibility and authority for supervision of financial institutions and macroprudential policies. A clear mandate for financial stability, independent decision making, transparent communication, and external accountability form the basis of the strong framework that was put in place. Institutional arrangements could be strengthened further by making the procedures to adjust the macroprudential framework more transparent.

Subject: Banking, Financial institutions, Financial sector policy and analysis, Financial sector stability, Housing, Housing prices, Macroprudential policy, Mortgages, National accounts, Prices

Keywords: Bank, Bank securities, Banking system, Banks in New Zealand, Core funding ratio, CR, Equity price, Financial sector stability, Global, House price, House price overvaluation, Housing, Housing loan, Housing market, Housing price inflation, Housing prices, ISCR, Liquidity Policy, LVR restriction, Macroprudential policy, Mortgages, Price, Price inflation, Reserve Bank's Domestic Market Operations

Publication Details

Pages:

34
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/118
Stock No:

1NZLEA2017006
ISBN:

9781475599909
ISSN:

1934-7685

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