Parliament

Gordon Campbell | Parliament TV | Parliament Today | Video | Questions Of the Day | Search

 

Trans-Tasman banking integration progress

Hon Dr Michael Cullen Minister of Finance

Hon Margaret Wilson Minister of Commerce

24 September 2004

Trans-Tasman banking integration progress

Finance Minister Michael Cullen and Commerce Minister Margaret Wilson announced today that officials are undertaking work on the regulation of major financial institutions.

This work will determine whether different regulatory or institutional arrangements, including a joint trans-Tasman approach to regulation, could further growth and economic development in New Zealand.

“Once all this work is complete we can then make a decision on whether further integration with Australia would improve New Zealand’s economic growth and performance,” Dr Cullen said.

Officials from the Treasury, Reserve Bank of New Zealand and Ministry of Economic Development will undertake the work, which follows earlier discussions with Australian authorities on banking regulation.

While the key focus of the review is banking, officials will also consider the merits of including insurance under a similar regulatory approach, but will not repeat Law Commission work on life insurance.

The work will be reported back to the Finance Minister early next year.

Following on from the trans-Tasman discussions earlier in the year, the Reserve Bank is also working towards better information sharing and co-ordination with its Australian counterparts. A key result of this will be an improvement in the Bank’s crisis management capabilities. For more information about ths review please see: www.treasury.govt.nz or www.med.govt.nz or www.rbnz.govt.nz

ENDS

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On Vulnerable Kids, RNZ Funding, And Poppy

The decision to remove the word ‘vulnerable’ from the Ministry for Vulnerable Children could well mark a whole shift in approach to the care of children in need.

And I’m hedging with the ‘could well’ only because the Ardern government hasn’t yet spelled out whether the name change it has announced will also involve a rejection of the controversial use of Big Data to try and predict those children deemed to be at highest risk of inter-generational reliance on welfare support. More>>

 

Principals' Federation: End Of National Standards

Today the Minister of Education announced that the Government has stopped the controversial National Standards system of assessment and declared them an arbitrary measure which did not raise children's achievement as the previous Government intended. More>>

ALSO:

Public Good: People’s Report On Public Broadcasting And Media Presented

The People’s Commission on Public Broadcasting and Media, was crowdfunded and was informed by an extensive consultation, seeking the views of both those working in Media as well as gathering input both online and in person from ordinary Citizens. More>>

ALSO:

RBNZ To RNZB: PM's Press Conference

Prime Minister Jacinda Adern was joined by Minister of Finance Grant Robertson and Minister for Children Tracey Martin to announce the appointment of Adrian Orr as the new Governor of the Reserve Bank and the name change of the Ministry for Vulnerable Children to ‘Oranga Tamariki - Ministry for Children’. More>>

ALSO:

'Taming Globalised Capital': Why Is Labour Supporting Investment Rules In WTO?

‘Today, we learned the new government has added New Zealand’s name to a proposal designed to lead to foreign investment rules in the WTO at this week’s ministerial meeting in Argentina,’ said Auckland University Professor Jane Kelsey. More>>

ALSO:

Gordon Campbell: On The Politics Of Scaring Voters Back Into Line

Fear has always been a useful mobilising tool in politics… yet in 2017, bogeymen of all shapes and sizes seem to have fallen on hard times. For years, the National party had painted itself as being the only reliable defensive bastion against the terrifying prospect of a centre-left government… More>>

ALSO:

Gordon Campbell: On Drinking Water As A Failure Of Political Leadership

It is almost possible to feel sorry for the Health Ministry in their terrible, no good, very bad week... More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

Featured InfoPages