Regulatory Alerts2013-10-31
Memorandum of Understanding between the Reserve Bank of India and the Reserve Bank of New Zealand
The Reserve Bank of India and the Reserve Bank of New Zealand established a bilateral framework to share supervisory information and enhance cooperation regarding cross-border banking operations. The agreement mandates mutual assistance during licensing and ongoing supervision, outlines procedures for on-site examinations, and requires prompt notification of material supervisory concerns or financial difficulties affecting either jurisdiction. All exchanged data is strictly bound by confidentiality obligations and lawful supervisory purposes, with the non-binding memorandum automatically renewing annually unless terminated with thirty days' notice.
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