BankHeadOffice.com         Bank Head Office Worldwide   ♦ Loan Calculators ♦ Mortgage Guides ♦ Banking FAQs ♦ Banking Institutions ♦ Central Banks Worldwide       Home  »  Central Banks Worldwide  »  Reserve Bank of New Zealand Reserve Bank of New Zealand The Reserve Bank of New Zealand is the central bank of New Zealand and is constituted under the Reserve Bank of New Zealand Act 1989.   The Governor of the Reserve Bank is responsible for New Zealand's currency and operating monetary policy. The Bank manages monetary policy to maintain price stability, promotes the maintenance of a sound and efficient financial system and supplies New Zealand bank notes and coins. The Bank is required to ensure that, throughout the economy, money works as well as possible as a mechanism for making transactions, storing value, and keeping account. The Reserve Bank is not a government department, but is a body corporate whose finances are included in the Crown accounts. In pursuit of this, the Bank shall uphold the following core values:   •  Operating monetary policy to achieve and maintain price stability;   •  Assisting the functioning of a sound and efficient financial system;   •  Meeting the currency needs of the public;   •  Overseeing and operating efficient payment systems; and   •  Providing effective support services to the Bank. The Reserve Bank does not have shareholders. It is fully owned by the New Zealand Government, with any extra revenue that the Reserve Bank makes going back into the Crown accounts. There are currently 20 banks registered in New Zealand. All banks operating here must be registered with the Reserve Bank of New Zealand and are required by law to disclose their financial condition each quarter.   Reserve Bank of New Zealand HQ Address: 2 The Terrace PO Box 2498 Wellington 6011 New Zealand Tel: +64 4 472 2029 Fax: +64 4 473 8554 Website: www.rbnz.govt.nz Swift Code: RBNZNZ2S Currency: New Zealand dollar Banking Hours: Mon - Fri : 9.00am - 4.30pm   The Reserve Bank of New Zealand uses monetary policy to maintain price stability as defined in the Policy Targets Agreement (PTA). The current PTA requires the Bank to keep inflation between 1 and 3 percent on average over the medium term. The Bank implements monetary policy by setting the Official Cash Rate (OCR), which is reviewed eight times a year.   List of banks governed by the Reserve Bank of New Zealand » ANZ National Bank Limited » Commonwealth Bank of Australia » SBS Bank (Southland Building Society) » ASB Bank Limited » Deutsche Bank A G » The Bank of Tokyo-Mitsubishi UFJ » Australia and New Zealand Banking Group Limited » JP Morgan Chase Bank N A » The Hongkong and Shanghai Banking Corporation » Bank of Baroda (New Zealand) Limited » Kiwibank Limited » TSB Bank Limited » Bank of India (New Zealand) Limited » Kookmin Bank » Westpac Banking Corporation » Bank of New Zealand » Rabobank Nederland » Westpac New Zealand Limited » Citibank N A » Rabobank New Zealand Limited DISCLAIMER The content comes from Internet, reasonable efforts are made to maintain accuracy of information published. However, information could contain errors or inaccuracies and is presented without warranty and statutory means. No liability is assumed for errors or omissions. Viewers are advised to consult their banker or financial consultant for complete information and their professional advise. All trademarks, logos, brand names and copyrights are the property of their respective owners. © 2011 - 2022 BankHeadOffice.com ® All Rights Reserved