16 août 2021 - Reserve Bank of New Zealand Act - passed

Description:

The Reserve Bank of New Zealand Act 2021 modernises the institutional arrangements of the Reserve Bank by replacing the single decision-maker model with a governance board and strengthening reporting and accountability requirements. The new governance board will be tasked with all the responsibilities of the Reserve Bank (other than those given to the Monetary Policy Committee). The Act will also reframe and clarify the financial stability objective for the Reserve Bank and provide for a Financial Policy Remit to be issued by the Minister. These and other changes in the Act together strengthen the Reserve Bank’s governance and accountability settings while protecting its operational independence.

Source: https://www.treasury.govt.nz/news-and-events/reviews-consultation/reviewing-reserve-bank-act

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