2013 New Zealand Immigration: Bank of New Zealand

2013 New Zealand Immigration: Bank of New Zealand

Reserve Bank of New Zealand

The Reserve Bank of New Zealand was established in 1934 and is the central bank of the current New Zealand government. In 1936, the New Zealand government nationalized it. As the central bank of New Zealand, the Reserve Bank of New Zealand has the following main functions in New Zealand's domestic and international economies:

1. Implement monetary policy and maintain price stability;

2. Establish and maintain a reasonable , Effective financial order;

3. Satisfy the public’s demand for currency circulation.

The Reserve Bank Act promulgated by the New Zealand government in 1989 granted the Reserve Bank of New Zealand the right to independently implement monetary policy, requiring the Reserve Bank of New Zealand to publish a "monetary policy report" to the New Zealand public every six months to review and summarize the past six months. The implementation of monetary policy during the period and a brief introduction to the policy direction in the next period. In addition, all commercial banks in New Zealand need to be registered with the Reserve Bank of New Zealand and subject to the supervision and management of the Reserve Bank of New Zealand. Any commercial bank that wants to apply to register and operate in New Zealand must meet the basic standards set by it. This is mainly to safeguard the interests of depositors, strengthen bank management, and ensure the overall order of the New Zealand banking industry. At the same time, the public supervision mechanism of banks also plays a considerable role in this.

Australia and New Zealand Banking Group (New Zealand) Limited

Founded in 1840, it is the oldest and largest private commercial bank in New Zealand. Its parent company, ANZ Banking Group, is one of the largest in the world. of 100 banks. In October 2003, it acquired National Bank of New Zealand from Lloyds Bank of England for S$5.4 billion, becoming the new largest bank.

Bank of New Zealand

Founded in 1861. It was state-owned before July 1989, after which the government sold 37.5% of its shares. In 1992, it became a subsidiary bank of the National Australia Bank Group.