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The Bank of New Zealand was formed as a private company and incorporated by the New Zealand Bank Act 1861, which created the company and authorises it to issue banknotes. [2] The Bank of New Zealand's first office opened in Auckland in October 1861, followed shortly afterwards by the first branch in Dunedin in December 1861. [3]
The student must be a New Zealand citizen, or ordinarily resident in New Zealand and have: lived in New Zealand for at least 3 years and held a residence class visa for at least 3 years. [ 5 ] There are exceptions to the residency criteria: where the student is a refugee or protected person or their immediate family, an Afghan evacuee , or a ...
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.
The net stable funding ratio has been proposed within Basel III, the new set of capital and liquidity requirements for banks, which are over time replacing Basel II. [2] Basel III has been prepared within the Basel Committee on Banking Supervision of the Bank for International Settlements. [3]
Westpac New Zealand, known simply as Westpac, is a New Zealand bank that is a subsidiary of the Australian Westpac Banking Corporation. The bank is one of New Zealand's big four banks. It operates under the same brand as its parent but is operationally separated as required by the New Zealand banking regulator the Reserve Bank of New Zealand.
The scheme guaranteed that the New Zealand Government would repay those who lost money in failed financial institutions. It was implemented on 12 October 2008, administered by Treasury and the Reserve Bank and at its height resulted in Crown guarantees over $133 billion. [2] Ninety-six institutions were covered by the scheme - 60 non-bank ...
The New Zealand Superannuation Fund (Māori: Te Kaitiaki Tahua Penihana Kaumātua o Aotearoa) is a sovereign wealth fund in New Zealand.New Zealand currently provides universal superannuation for people over 65 years of age and the purpose of the Fund is to partially pre-fund the future cost of the New Zealand Superannuation pension, which is expected to increase as a result of New Zealand's ...
M2: M1 + all non-M1 call funding (call funding includes overnight money and funding on terms that can of right be broken without break penalties) minus inter-institutional non-M1 call funding; M3: the broadest monetary aggregate. It represents all New Zealand dollar funding of M3 institutions and any Reserve Bank repos with non-M3 institutions.