RBNZ receives more capital to bolster financial stability role

Finance Minister Grant Robertson took a proposal to boost the Reserve Bank of New Zealand’s capital by NZ$1.3bil to his cabinet colleagues last month, according to documents released by the Treasury Department. — Reuters

WELLINGTON: New Zealand’s central bank is getting more capital from the government to allow it to meet balance sheet risks and enable it to deploy tools to ensure financial stability.

Finance Minister Grant Robertson took a proposal to boost the Reserve Bank of New Zealand’s (RBNZ) capital by NZ$1.3bil to his cabinet colleagues last month, according to documents released by the Treasury Department yesterday in Wellington.