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Currently there are 19 banks in New Zealand that are
registered. The Reserve Bank of New Zealand is the central
bank of all banks operating in the country and they must all
be registered to it. All registered banks are required by
the state to report their financial condition every quarter
of the year.
These registered banks are the ANZ National Bank Limited,
ASB Bank Limited, Australia and New Zealand Banking Group
Limited, Bank of Baroda (New Zealand) Limited, Bank of New
Zealand, Citibank N A, Commonwealth Bank of Australia,
Deutsche Bank A G, JPMorgan Chase Bank NA, Kiwibank Limited,
Kookmin Bank, Rabobank Nederland, Rabobank New Zealand
Limited, Southland Building Society, |
The Bank of Tokyo-Mitsubishi UFJ, The Hongkong and Shanghai Banking
Corporation, TSB Bank Limited
Westpac Banking Corporation, and the Westpac New Zealand
Limited.
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The government of New Zealand completely owns the Reserve
Bank and this institution has no shareholders. The Crown or
government account is entitled to revenue which the Reserve
Bank earns. Although the Reserve Bank is not a state
department, it is a corporate body whose assets are
incorporated in the Crown accounts.
Accountability and transparency of the Reserve Bank (RBNZ)
can be obtained in the Bank’s publications under PDF 422KB,
in the RSNZ Act 1989 which clearly states the institution’s
accountability to the local citizens of New Zealand. A copy
of the Reserve Bank Act 1989 and its amendments can be
obtained at the New Zealand Legislation website.
A free copy of RBNZ’s Annual Report can be obtained at the
Reserve Bank’s Knowledge Centre. It can also be read online
at the Reserve Bank’s Knowledge Centre’s website.
To gain more knowledge on the Kiwi Bonds, you can contact
the Computershare Investor Services at the Auckland Private
Bag 92119 at telephone number 0800 655 494 or fax all
enquiries at 09 488 8775 or simply e-mail them at enquiry@computershare.co.nz
. Interest rates for Kiwi Bonds are determined by the New
Zealand Debt Management Office at their official website.
The Reserve Bank of New Zealand had previously been tasked
to handle Kiwi Bonds but this ended on December 20, 2004.
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Private citizens and corporations are not allowed to invest
money in the Reserve Bank of New Zealand. However, other
institutions of the government of New Zealand allow
investment in securities. These institutions are New Zealand
dollar dominated and are offered by the state. Financial
advisors and stockbrokers should have the proper information
on how to go about this.
All information and publications on the Reserve Bank’s
official website can be reproduced and re-published without
restriction from said institution. However, some
acknowledgement as to the source of the information would be
very welcome.
Information on New Zealand’s payment of balances can be
garnered from the Statistics New Zealand. Their official
website has all the necessary information readily available
for public viewing on the NZ’s balance payments.
New Zealand’s credit rating can be accessed at the New
Zealand Debt Management Office website. It is here that New
Zealand’s debt market info as well as its rating in foreign
currency can be obtained. |
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