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New Zealand: Financial Sector Assessment Program [electronic resource] : Technical Note-Regulation and Oversight of Financial Market Infrastructures.

Contributor(s): Material type: TextTextSeries: IMF Country ReportsPublication details: Washington, D.C. : International Monetary Fund, 2017.Description: 1 online resource (36 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781484300237
  • 1484300238
Subject(s): Genre/Form: Additional physical formats: Print version:: New Zealand: Financial Sector Assessment Program.DDC classification:
  • 332 23
LOC classification:
  • HG189.5
Online resources:
Contents:
Cover; CONTENTS; Glossary; EXECUTIVE SUMMARY; INTRODUCTION; DESCRIPTION OF FINANCIAL MARKET INFRASTRUCTURES IN NEW ZEALAND; A. Overview of Financial Market Infrastructures; ANALYSIS OF SELECTED ISSUES; A. Oversight of FMIs; B. Crisis Management and Interdependencies; BOXES; 1. The Five Responsibilities of the PFMI; 2. Network Analysis of FMIs and their Members; FIGURE; 1. Critical FMI Members; TABLES; 1. Recommendations for FMI Supervision and Crisis Management; 2. Systemic Indicators for FMIs; 3. Overview of Responsible Authority per FMI; APPENDICES; I. FMI landscape in New Zealand.
II. Statistics of FMIsIII. Laws and Guidelines for New Zealand FMIs; IV. Key Features of Current and Proposed Oversight Regime for FMIs; V. Cooperation Agreements between New Zealand Authorities and Foreign Authorities.
Abstract: This Technical Note assesses regulation and oversight of financial market infrastructures (FMIs) in New Zealand. The regulatory and oversight framework for FMIs in New Zealand is undergoing a major reform. The Reserve Bank of New Zealand and the Financial Markets Authority (FMA) currently lack sufficient legal powers to identify and address risks building up in FMIs, partly because the regime is voluntary and the authorities do not have the appropriate toolkit to pursue their oversight objectives. It is recommended that supervisory practices be formalized and staff resources increased. The role of the FMA should be further clarified.
Holdings
Item type Current library Collection Call number Status Date due Barcode Item holds
eBook eBook e-Library EBSCO Business Available
Total holds: 0

Cover; CONTENTS; Glossary; EXECUTIVE SUMMARY; INTRODUCTION; DESCRIPTION OF FINANCIAL MARKET INFRASTRUCTURES IN NEW ZEALAND; A. Overview of Financial Market Infrastructures; ANALYSIS OF SELECTED ISSUES; A. Oversight of FMIs; B. Crisis Management and Interdependencies; BOXES; 1. The Five Responsibilities of the PFMI; 2. Network Analysis of FMIs and their Members; FIGURE; 1. Critical FMI Members; TABLES; 1. Recommendations for FMI Supervision and Crisis Management; 2. Systemic Indicators for FMIs; 3. Overview of Responsible Authority per FMI; APPENDICES; I. FMI landscape in New Zealand.

II. Statistics of FMIsIII. Laws and Guidelines for New Zealand FMIs; IV. Key Features of Current and Proposed Oversight Regime for FMIs; V. Cooperation Agreements between New Zealand Authorities and Foreign Authorities.

This Technical Note assesses regulation and oversight of financial market infrastructures (FMIs) in New Zealand. The regulatory and oversight framework for FMIs in New Zealand is undergoing a major reform. The Reserve Bank of New Zealand and the Financial Markets Authority (FMA) currently lack sufficient legal powers to identify and address risks building up in FMIs, partly because the regime is voluntary and the authorities do not have the appropriate toolkit to pursue their oversight objectives. It is recommended that supervisory practices be formalized and staff resources increased. The role of the FMA should be further clarified.

Description based on online resource; title from PDF title page (IMF eLibrary, viewed July 27, 2018).

Print version record.

Added to collection customer.56279.3 - Master record variable field(s) change: 050, 072, 082, 610, 650

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