RBNZ: Consults on new laws to safeguard the plumbing of the financial system

RBNZ: Consults on new laws to safeguard the plumbing of the financial system

• RBNZ is New Zealand’s central bank. The Bank has main functions operating monetary policy to maintain price stability
• Groups with an interest in the financial market transactions and payments are being asked for their views
• The Financial Market Infrastructure Act became law in May 2021
• The new Act governs Financial Market Infrastructures (FMIs) – a set of critical systems
• These systems allow electronic payments and financial market transactions to occur
• Like other important infrastructure, such as the electricity grid or the road system, FMIs are essential for the wellbeing of New Zealanders