Source: New Zealand Treasury:
On 30 July 2020 the Reserve Bank of New Zealand Bill was introduced into Parliament. The Bill provides for the objectives and functions of the Reserve Bank and its governance, accountability, transparency, and funding arrangements. This Bill also increases coordination between public agencies responsible for the financial system and creates a new framework to better manage the use of New Zealand’s foreign exchange reserves. The Bill received Royal Assent on 16 August 2021 and became the Reserve Bank of New Zealand Act 2021.
This proactive release contains official information relating to the progress of the Bill through Select Committee, and advice to the Minister of Finance and Cabinet on amendments made to the legislation during the Parliamentary process. These documents have been prepared by the Treasury for proactive release in consultation with the Reserve Bank of New Zealand.