Public Standards and Private Monitoring: New Zealand's New Banking Supervision Regime

Arthur Grimes

MPRA Paper from University Library of Munich, Germany

Abstract: The Reserve Bank of New Zealand (RBNZ), which is well-known for its independence and anti-inflation stance under the Reserve Bank of New Zealand Act 1989, has embarked on another policy innovation. In January 1996, it implemented a new approach to banking supervision. Defying international trends, the RBNZ reforms envisage returning ‘supervision’ largely to the private sector, although the RBNZ retains a role in specifying minimum standards for banks to meet. This article outlines and analyses these proposals, in the context both of the broader reform process in New Zealand since 1984 and of international and academic developments. It also considers whether certain aspects of the proposals could be altered so as to better meet the Reserve Bank’s objectives.

Keywords: Banking supervision; central banking (search for similar items in EconPapers)
JEL-codes: E58 G21 G28 (search for similar items in EconPapers)
Date: 1996
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Published in Agenda 3.3(1996): pp. 277-286

Downloads: (external link)
https://mpra.ub.uni-muenchen.de/69393/1/MPRA_paper_69393.pdf original version (application/pdf)

Related works:
Journal Article: Public Standards and Private Monitoring: New Zealand’s New Banking Supervision Regime (1996)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:69393

Access Statistics for this paper

More papers in MPRA Paper from University Library of Munich, Germany Ludwigstraße 33, D-80539 Munich, Germany. Contact information at EDIRC.
Bibliographic data for series maintained by Joachim Winter ().