RegAlertGuidance · RBNZ · 27 Feb 2022
Our approach to policy
A New Zealand financial regulator outlines its approach to developing and implementing prudential policy, aiming to protect and promote financial system stability by addressing risks and supporting competition and innovation. This approach involves considering international standards, industry feedback, and emerging risks, while also having regard for the Financial Policy Remit from the Minister of Finance. The regulator applies good regulatory practice models, its Regulatory Impact Analysis framework, and engages in wide consultation with stakeholders, including industry, the public, and other regulatory bodies.
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Our Statement of Prudential Policy
Information on how we develop and implement prudential policy and work with our stakeholders.
Published:
Last updated:
How we develop our policy
We protect and promote the stability of New Zealand’s financial system by developing policy that:
addresses prudential risks and market failures
supports competition and innovation.
Our
Statement of Prudential Policy sets out our approach to how we make prudential policy.
What we consider when we develop prudential policy
We consider a broad range of factors in developing prudential policy:
changes in international standards and best practice
issues raised by industry and other stakeholders, including the Council of Financial Regulators
emerging risks and trends.
You can find more information about our approach to policy-making in our statement of policy-making approach.
Statement of policy-making approach (PDF 552 KB)
Our Competition Assessment Guidelines for Prudential Policy outline how we consider competition and ensure we factor competition into our policy analysis from the outset.
Competition Assessment Guidelines for Prudential Policy (PDF, 697KB)
Financial Policy Remit
We have regard to the Financial Policy Remit issued by the Minister of Finance. The Remit sets out things the Minister considers desirable for us to take into account in pursuing our financial stability objectives and how we perform our functions as a prudential regulator and supervisor.
Our Financial Policy Remit from the Minister of Finance
We apply the Ministry for Regulation's model for good regulatory practice wherever possible, as well as our Regulatory Impact Analysis (RIA) framework.
We consult and engage widely with industry and the public, other regulators and government agencies, both domestically and internationally.
Quick guides to good regulatory practice | Ministry for Regulation
Related content
Our approach to supervision
Information on how we approach prudential supervision of regulated entities.
Our approach to enforcement and resolution
Information on our risk-based approach to enforcement and resolution.
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Source: Reserve Bank of New Zealand — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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