New Zealand : Financial Sector Assessment Program: Detailed Assessment of Observance-Basel Core Principles for Effective Banking Supervision.

This paper presents an assessment of Observance of the Basel Core Principles for Effective Banking Supervision (BCP) in New Zealand. The supervisory approach of the Reserve Bank of New Zealand (RBNZ) reflects the characteristics of the local banking industry and the authorities' goal to limit m...

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Bibliographic Details
Corporate Author: International Monetary Fund. Monetary and Capital Markets Department
Format: Journal
Language:English
Published: Washington, D.C. : International Monetary Fund, 2017.
Series:IMF Staff Country Reports; Country Report ; No. 2017/120
Online Access:Full text available on IMF
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110 2 |a International Monetary Fund.  |b Monetary and Capital Markets Department. 
245 1 0 |a New Zealand :   |b Financial Sector Assessment Program: Detailed Assessment of Observance-Basel Core Principles for Effective Banking Supervision. 
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520 3 |a This paper presents an assessment of Observance of the Basel Core Principles for Effective Banking Supervision (BCP) in New Zealand. The supervisory approach of the Reserve Bank of New Zealand (RBNZ) reflects the characteristics of the local banking industry and the authorities' goal to limit moral hazard by relying on market discipline and not offering deposit insurance. Banks offer traditional products in a highly concentrated market. Since the most recent Financial Sector Assessment Program, the RBNZ has increased attention to strengthening regulatory discipline. The current approach to supervision is limited by the heavy weight the RBNZ places on market discipline compared with regulatory discipline. Better compliance with the BCP and enhanced effectiveness of the RBNZ three-pillar approach are recommended. 
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830 0 |a IMF Staff Country Reports; Country Report ;  |v No. 2017/120 
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