The Reserve Bank's local-incorporation policy
Foreign-owned banks play an important role in New Zealand’s financial system. This article discusses the Reserve Bank’s local-incorporation policy, which is one of the key elements in the policy framework to minimise the risks and maximise the benefits of hosting foreign-owned banks. The article identifies some of the benefits and risks of hosting foreign-owned banks; it discusses the local-incorporation policy rules and how the policy fits into the wider set of rules affecting banks; and discusses how the policy promotes the soundness and efficiency of New Zealand’s financial system, and avoids the damage to the financial system that could arise from the failure of a foreign-owned bank.
Volume (Year): 69 (2006)
Issue (Month): (December)
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- Leslie Hull, 2002. "Foreign-owned banks: Implications for New Zealand's financial stability," Reserve Bank of New Zealand Discussion Paper Series DP2002/05, Reserve Bank of New Zealand.
- Loretta DeSourdy, 2006. "The Reserve Bank of New Zealand Amendment Act 2006," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 69, pages 4p, December.
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