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The Reserve Bank of New Zealand (RBNZ) (Māori: Te Pūtea Matua) is the central bank of New Zealand. It was established in 1934 [2] and is currently constituted under the Reserve Bank of New Zealand Act 2021. [3] The governor of the Reserve Bank, currently Adrian Orr, is responsible for New Zealand's currency and operating monetary policy.
In 1861 the Bank of New South Wales opened seven branches in New Zealand. In 1982, the New Zealand parliament passed special legislation to consolidate the New Zealand operations during the merger of the Bank of New South Wales and the Commercial Bank of Australia. The act of parliament was known as the Westpac Banking Corporation Act 1982. [4]
ANZ Bank New Zealand: 1 April 1987 New Zealand retail banking subsidiary Australia & New Zealand Banking Group: 28.1% (2022) [4] Auckland, New Zealand: ASB Bank: 11 May 1989 New Zealand retail banking subsidiary Commonwealth Bank: 17.2% (2022) [5] Auckland, New Zealand: Westpac New Zealand: 31 October 2006 New Zealand retail banking subsidiary ...
The coat of arms of the Reserve Bank of New Zealand. In 1934, the Reserve Bank of New Zealand was established as the country's central bank. Its primary objective was to regulate monetary policy, maintain price stability, and promote the stability and efficiency of the financial system.
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For retail customers, Bank of New Zealand offers a range of products and services that include savings and investments, home loans, credit cards, personal loans, insurance and international and migrant banking. [13] Customers are able to bank using telephone banking, internet banking or by visiting one of 180 branches around New Zealand.
In July 2011, the Reserve Bank of New Zealand announced that a new issue of banknotes would be released for circulation from 2015. [10] [11] The new five-dollar and ten-dollar notes were released in October 2015, and the new twenty-dollar, fifty-dollar and one-hundred-dollar notes were released in May 2016. The Reserve Bank termed the issue the ...
The Reserve Bank of New Zealand was established as New Zealand's central bank on 1 August 1934. Up until that time New Zealand's monetary policy had been set in the United Kingdom, and the New Zealand Pound was issued by private banks.