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

Author: International Monetary Fund. Monetary and Capital Markets Department

Volume/Issue: Volume 2004 Issue 126

Publication date: May 2004

ISBN: 9781451830194

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Topics covered in this book

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Banks and Banking , Finance , ISCR , CR , bank , market , building society , banking sector , parent bank , market discipline , market participant , market intermediary , market friction , return on assets , well functioning market , operations accounting , exchange member , swap market , disclosure regime , Commercial banks , Insurance companies , Nonbank financial institutions , Insurance , Securities markets , Australia and New Zealand

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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.