Statutory corporation
The Reserve Bank is New Zealand’s central bank. Its functions are:
- to act as the central bank for New Zealand, including by:
- formulating (through the Monetary Policy Committee) and implementing monetary policy
- managing foreign reserves and dealing in foreign exchange
- issuing and managing bank notes and coins
- monitoring the needs of the public for banknotes and coins
- providing liquidity facilities to manage liquidity in the financial system and to protect or promote financial system stability
- providing settlement accounts
- operating or participating in payments and settlements systems
- liaising and cooperating with other central banks and relevant international institutions
- providing or facilitating the provision of information to the public that is relevant to the Bank’s objectives
- to monitor the financial system
- to act as a prudential regulator and supervisor under prudential legislation
- to perform and exercise the functions and powers under the AML Act
- to cooperate with other law enforcement and regulatory agencies, including Australian financial authorities.
For further information:
The Reserve Bank's Institutional Regime
New Zealand's central bank - Reserve Bank of New Zealand
Key Information
| Entity Form | Statutory corporation |
|---|---|
| Established | 1934 |
| Head Office | Wellington |
| Primary Legislation | Reserve Bank of New Zealand Act 2021 |
Board of Directors
| Person | Role | Term |
|---|---|---|
| Mr Adrian Orr | Governor and Member | - |
| Professor Neil Quigley | Chair | - |
| Mr Rodger Finlay | Deputy Chair | - |
| Mr Jeremy Banks | Member | - |
| Professor Rawinia Higgins | Member | - |
| Mrs Susan Paterson | Member | - |
| Mr Byron Pepper | Member | - |
| Ms Hinerangi Raumati-Tu'ua | Member | - |