IMF Staff Country Reports

New Zealand: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, and Securities Regulation

May 5, 2004

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International Monetary Fund. Monetary and Capital Markets Department "New Zealand: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, and Securities Regulation", IMF Staff Country Reports 2004, 126 (2004), accessed November 21, 2024, https://doi.org/10.5089/9781451830194.002

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Summary

This paper presents key findings of the Financial System Stability Assessment for New Zealand, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, and Securities Regulation. The assessment reveals that New Zealand has a profitable and well-functioning financial system, operating in a framework of well-developed financial markets. Short-term risks to stability appear low, given the favorable macroeconomic outlook, and sound and transparent financial policies. Stress tests for systemically important banks show resilience consistent with the sector’s relatively high levels of capital and profits.

Subject: Banking, Commercial banks, Financial institutions, Financial markets, Insurance, Insurance companies, Nonbank financial institutions, Securities markets

Keywords: Australia and New Zealand, Bank, Banking sector, Building society, Commercial banks, CR, Disclosure regime, Exchange member, Insurance, Insurance companies, ISCR, Market, Market discipline, Market friction, Market intermediary, Market participant, Nonbank financial institutions, Operations accounting, Parent bank, Return on assets, Securities markets, Swap market, Well functioning market

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