The team undertaking the second phase of the government’s Reserve Bank Act Review is seeking feedback on a range of proposed topics, which includes the option of deposit insurance.
The joint Treasury and Reserve Bank of New Zealand (RBNZ) group published a consultation paper focusing on the regulator’s financial policy framework, which includes objectives set out in legislation, governance, separation of prudential supervision from RBNZ, depositor protection and perimeter for prudential regulation.
A non-technical booklet summarising the main issues for consultation and giving the public an opportunity to submit their views on them is also available.
“We would strongly encourage submissions on each of the topics covered in the consultation paper as these will help inform recommendations to the government on any changes to the role of the Reserve Bank and how it should be governed,” review team director Bernard Hodgetts said.
What do you think about the introduction of a protection scheme for depositors in New Zealand? Are you for or against deposit protection mechanisms and possible options including deposit insurance?
Consultations close on January 25, 2019.
