The Reserve Bank's local-incorporation policy

Willy Chetwin
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Willy Chetwin: Reserve Bank of New Zealand

Reserve Bank of New Zealand Bulletin, 2006, vol. 69, No 4, 10p

Abstract: 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.

Date: 2006
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