Regulatory Alerts2023-03-26
Cooperation Arrangement between the Reserve Bank of New Zealand and the Single Resolution Board
The Reserve Bank of New Zealand and the Single Resolution Board have established a Cooperation Arrangement to facilitate information exchange and coordination regarding the resolution planning and implementation for entities with cross-border operations. The document outlines a framework for periodic and ad-hoc consultations, defining specific mechanisms for sharing data on financial conditions and crisis management while respecting domestic legal constraints. It explicitly states that the arrangement does not create legally binding obligations but aims to enhance financial stability and market confidence in both New Zealand and the European Banking Union.
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