New Zealand: Financial Sector Assessment Program: Technical Note-Contingency Planning and Crisis Management Framework

International Monetary Fund

No 2017/116, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note assesses the level of implementation of the Contingency Planning and Crisis Management Framework in New Zealand. Work has already begun to identify necessary resources, such as rosters of potential statutory managers and personnel from government agencies and the private sector who could be mobilized to deal with a crisis. This work needs to be further developed. In parallel, the Reserve Bank of New Zealand should continue to document the procedure for appointment of a statutory manager, open bank resolution, and other resolution options. The Treasury should complete “shelf” agreements, which may be required for a Crown guarantee or other support in a crisis.

Keywords: ISCR; CR; public funds; bank creditor recapitalization; bridge bank option; annual testing; liquidity facility; parent bank; Deposit insurance; Bank resolution framework; Global financial crisis of 2008-2009; Crisis management framework; Insurance companies; Global (search for similar items in EconPapers)
Pages: 33
Date: 2017-05-10
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