World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

RBNZ To Lead Asia-Pacific Central Banks Working Group


The Reserve Bank of New Zealand has been appointed chair of an international central bank working group for the next two years.

In its virtual meeting on Wednesday, the Executives’ Meeting of East Asia-Pacific Central Banks (EMEAP) announced that the Reserve Bank has been appointed chair of the EMEAP Working Group on Payments and Market Infrastructures (WGPMI).

EMEAP is a cooperative organisation of central banks and monetary authorities from Australia, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, New Zealand, the Philippines, Singapore and Thailand.

Reserve Bank Deputy Governor Geoff Bascand said the appointment is very much aligned with the Reserve Bank’s expanding regulatory and operational focus on financial market infrastructures (FMIs). FMIs provide channels through which payments, securities, derivatives or other financial transactions are cleared, settled or recorded. Well-functioning and efficient FMIs play a critical role in promoting financial stability and economic growth.

“Our work on establishing a new and enhanced regulatory regime for FMIs operating in New Zealand is well advanced now. As the working group’s chair, we look forward to engaging with our EMEAP colleagues and the international community in discussing how to better manage the risks and opportunities for FMIs in an increasingly interconnected and digitally enabled world,” Mr Bascand said.

EMEAP’s Working Group on Payments and Market Infrastructures studies the development and regulatory, supervisory, and oversight issues in domestic and cross-border payments and market infrastructures. It also provides opportunities for members to communicate regional perspectives and cooperate with other multilateral institutions and international forums on payments and market infrastructures matters. The Reserve Bank of New Zealand has been an active participant since the formation of the EMEAP working groups in 1996.


More information:

© Scoop Media

 
 
 
World Headlines

 

UNFCCC: Simon Stiell Appointed New Executive Secretary
UN Secretary-General António Guterres has appointed Simon Stiell as the new Executive Secretary of the United Nations Climate Change Secretariat based in Bonn, Germany...
More>>

Binoy Kampmark: Europe Dries Up
Scenes and pictures have been circulating of broken earth, lacking moisture, cracked and yearning. But these are not from traditional drought-stricken parts of the planet, where the animal carcass assumes near totemic power... More>>



UN: Bachelet Alarmed By Number Of Palestinian Children Killed In Latest Escalation

UN Human Rights Chief Michelle Bachelet today expressed alarm at the high number of Palestinians, including children, killed and injured in the occupied Palestinian territory this year, including in intense hostilities between Israel and Palestinian armed groups in Gaza last weekend... More>>


Afghanistan: One Year On From Regime Change And Children Face An Unimaginable A Crisis
On the one-year anniversary of regime change in Afghanistan, a new World Vision report highlights the grave risk the country’s children face from starvation, forced child marriage, and child labour... More>>


Somalia: ‘We Cannot Wait For Famine To Be Declared; We Must Act Now’
Rising acute food insecurity in Somalia has caused more than 900,000 people to flee their homes in search of humanitarian assistance since January last year, the Food and Agriculture Organization (FAO) has warned... More>>

UN: American West Faces Water And Power Shortages Due To Climate Crisis
Two of the largest reservoirs in the United States are at dangerously low levels due to the climate crisis and overconsumption of water, which could affect water and electricity supply for millions in six western states and Mexico, the UN Environment Programme (UNEP) warned on Tuesday... More>>