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English releases RB Board letter of expectations
Hon Bill English
Minister of
Finance
22 April 2016
English releases RB Board letter of expectations
Finance Minister Bill English today released publicly his letter of expectations for the Reserve Bank Board.
The Board is the Minister of Finance’s monitoring agent for the Reserve Bank and has a key role in the accountability arrangements that support strong performance.
The Board has responsibility for assessing the performance of all Bank operationsincluding its independent monetary policy role, as well as regulation of the financial system which is not independent of Government.
“Ministers typically send letters of expectation to the Boards of entities in their portfolio. This letter was prepared after The Treasury identified an opportunity to bring the accountability framework into line with other Crown agencies,” Mr English says.
“This change reflects the Government’s focus on good public sector practice and has not been driven by any concerns with the Reserve Bank’s performance.”
The latest report of the Reserve Bank Board can be found here.
The released letter can be found here
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