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

 

The Journey of Te Pūtea Matua: Our Tāne Mahuta

The Journey of Te Pūtea Matua: Our Tāne Mahuta

Te Pūtea Matua is the Māori name for the Reserve Bank of New Zealand. This article presents a broad picture of Te Pūtea Matua’s heritage, role, and interdependencies both within the Bank and economy-wide.

“The Reserve Bank team want to tell our story of how we fit together, and show respect to past, present, and future New Zealanders. Understanding our origin is especially important in times of change, which we are experiencing at present – including our legislation being reviewed,” Reserve Bank Governor Adrian Orr says.

“The establishment of the Reserve Bank of New Zealand in 1934 meant the people and government of New Zealand were better able to manage the economy independent of foreign banks’ credit cycles. In that sense, and drawing on Māori mythology, the Reserve Bank became the Tāne Mahuta of New Zealand’s financial system, allowing the sun to shine in on the New Zealand economy,” Mr Orr says.

“Te Pūtea Matua’s activities include issuing currency to the public, and maintaining price and institutional stability in New Zealand’s money exchange systems. Te Pūtea Matua’s roots are in its legislation. The money exchange systems and functions are its trunk, allowing the money – the sap – to flow throughout the system. The branches are the regulated financial institutions grafted onto the trunk, for their legitimacy and access to the Bank’s money and banking system.

“These functions are inter-related and allow Te Pūtea Matua to protect, nurture, and grow New Zealand’s wider financial ecosystem for the greater benefit of all New Zealanders.”

Mr Orr says the Reserve Bank is standing in good stead for the future, but will continue to grow and adapt to its environment. “We face challenges and changes that are driven by technology, economic development, global connectedness, and broader government, public and employee expectations. This is an exciting and challenging time for the Reserve Bank,” he says.

“We aim for this document to be a living story that evolves as people add their insights and share their knowledge and perspectives.”


More information:
Read the article – The Journey of Te Pūtea Matua: Our Tāne Mahuta

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Joseph Cederwall: Building a Community Newsroom

The “Scoop 3.0” Transition Plan
There is good reason to believe that a new path and a better future is possible for Scoop in 2019 as a pioneering independent Media company. A combination of new technology, ideas, institutions and business models and a renewed energy and commitment by the Scoop team, means Scoop aims to be at the forefront of the development of this renaissance that we term ‘News 3.0’.

By opening up Scoop’s structure to community ownership and exploring decentralised technology through the blockchain we can ensure the public has a stake in this enterprise and a say in its development. More>>

 

Gordon Campbell: On Jami-Lee Ross (And The New Hobbit Law)

Clearly, Jami-Lee Ross is not waging a normal form of political warfare, with agreed rules of combat and rational cost/benefit calculations.

This is politics-as-terrorism where everything is being sacrificed by the man in the bomb vest in order to remove Simon Bridges as the leader of the National Party. More>>

Text Messages Released: National On $100,000 Donation(s)
The Botany Electorate of the National Party received 8 donations, and Mr Ross declared 8 donations to us. More>>

ALSO:

Film Industry Working Group:

Three Killed: DOC Supporting Family, Colleagues After Helicopter Crash

The Department of Conservation (DOC) is rallying around family and colleagues of the staff who died in a helicopter crash this morning in Wanaka... The helicopter, with two DOC staff on board, was on its way to undertake tahr control in the Haast area when it crashed. More>>

ALSO:

Political Donations: Greens Call For Tighter Anonymity Rules And Public Funding

“It is clear that those vested interests have a tangible influence on the decision making of political parties. This is a threat to democracy and should change.” More>>

ALSO:

Education Amendment Bill Passes: Urgency Sought For Partnership School Treaty Claim

The claim takes issue with the acts and omissions of the Crown in respect of the closure of Partnership Schools | Kura Hourua. More>>

ALSO:

Salvation Army Paper: Call For Public Housing Investment

To meet these future demands the report suggests the government needs to look beyond the private rental market and begin to invest heavily into home-ownership programmes and more public and social housing. More>>

ALSO:

Cull: Himalayan Tahr Control Operation Proceeding

“The target of controlling 10,000 Himalayan tahr over the next eight months remains. The revised plan provides for a staged control operation with increased reporting to the Tahr Liaison Group...” More>>

ALSO:

Health: Petitions To Fund Breast Cancer Drugs

Women marching to Parliament today, to present two petitions calling for Government funding of vital medicines, have 100% support from a coalition representing than 30 breast cancer organisations. More>>

ALSO:

Animal Welfare Advisory Committee: Report On Rodeo Practices Released

The independent committee that advises the Minister responsible for Animal Welfare, has today released a report on animal welfare in rodeos, together with advice to the Minister making recommendations to improve the welfare of the animals in rodeos. More>>

ALSO:

 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels