Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search


Reserve Bank releases Annual Report

Reserve Bank of New Zealand

28 October 2005

News Release

Reserve Bank releases Annual Report

The Reserve Bank today released its 2004-2005 Annual Report.

Reserve Bank Governor Alan Bollard said many of the achievements in the
Annual Report in 2004-2005 were firsts for the Bank.

These included the first of the Bank's six-monthly Financial Stability
Reports, assessing the robustness of the financial system; a Statement
of Intent; consultation with our stakeholders (New Zealanders) on
changes to our 'silver' coins; and the Bank's admission to CLS Bank's
settlement system, Dr Bollard said.

The Annual Report draws particular attention to the designs and colours
of the new 'silver' coins which are to be introduced in mid-2006.

"The Bank, like our currency, is changing with the times. There are
several other areas where extensive new work began," he commented.

"This includes work on the formation of a Trans-Tasman Council on
Banking Supervision and reviews of financial regulation and supervision.
We also consulted with banks on a draft outsourcing policy for banks."

Dr Bollard said the Bank had continued to put considerable effort into
explaining its monetary policy decisions and soliciting feedback on
economic conditions from the business community.

From a financial aspect, the Annual Report shows that the Bank spent a
net $29.1 million on activities covered by the Bank's Funding Agreement.
This was 12 per cent below the $33 million permitted. The Bank
generated a surplus of $272.7 million, of which $139.3 million was paid
as a dividend to the Crown.

The 2004-2005 Annual Report is available on the Bank's website at


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Also, Loan Interest: Productivity Commission On Tertiary Education

Key recommendations include better quality control; making it easier for students to transfer between courses; abolishing University Entrance; enabling tertiary institutions to own and control their assets; making it easier for new providers to enter the system; and facilitating more and faster innovation by tertiary education providers... More>>


Higher Payments: Wellington Regional Council Becomes A Living Wage Employer

Councillor Sue Kedgley said she was delighted that the Wellington Regional Council unanimously adopted her motion to become a Living Wage employer, making it the first regional council in New Zealand to do so. More>>


Scoop Images:
Dame Patsy Reddy Sworn In As Governor-General

This morning Dame Patsy Reddy was sworn in as the New Zealand Realm’s 21st Governor-General. The ceremony began with a pōwhiri to welcome Dame Patsy and her husband Sir David Gascoigne to Parliament. More>>


Ruataniwha: DOC, Hawke's Bay Council Developer Take Supreme Court Appeal

The Department of Conservation and Hawke's Bay Regional Investment Company (HBRIC) are appealing to the Supreme Court over a conservation land swap which the Court of Appeal halted. More>>


With NZ's Marama Davidson: Women’s Flotilla Leaves Sicily – Heading For Gaza

Women representing 13 countries spanning five continents began their journey yesterday on Zaytouna-Oliva to the shores of Gaza, which has been under blockade since 2007. On board are a Nobel Peace Laureate, three parliamentarians, a decorated US diplomat, journalists, an Olympic athlete, and a physician. A list of the women with their background can be found here. More>>

Gordon Campbell: On The Key Style Of Crisis Management

At Monday’s post Cabinet press conference Key was in his finest wide- eyed “Problem? What problem?” mode. No, there wasn’t really a problem that top MPI officials had been at odds with each other over the meaning of the fisheries policy and how that policy should be pursued... More>>


Mt Roskill: Greens Will Not Stand In Likely Post-Goff By-Election

“The Green Party’s priority is changing the Government in 2017, and as part of that we’ve decided that we won’t stand a candidate in the probable Mt Roskill by-election... This decision shows the Memorandum of Understanding between Labour and the Green Party is working." More>>


Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news