apr 12, 1936 - Reserve Bank of New Zealand Amendment Act

Description:

11' April 1936 Parliament
-passed the Reserve Bank of New Zealand Amendment Act which stipulated
that the bank's role was amongst other things, to promote the 'economic and
social welfare of New Zealand'. £5 million from the National Development
Loan Account was released for state housing construction, to be paid back
gradually at the rate of 1 % interest.

Source: https://forms.justice.govt.nz/search/Documents/WT/wt_DOC_94029549/Wai%2060%2C%20A002.pdf