Skip to main content

Home/ Fintech Daily Digest/ Group items tagged NewZealand

Rss Feed Group items tagged

John Kiff

Govt moves to introduce open banking to give customers a better deal - 0 views

  •  
    New Zealand will introduce open banking over the next two years. Minister of commerce and consumer affairs David Clark said "open banking ensures banks must share customer information if they request it, making it easier for New Zealanders to compare mortgage rates, apply for loans, and switch banks."
John Kiff

RBNZ ramps up monitoring of stablecoins and crypto-assets - 0 views

  •  
    The Reserve Bank of New Zealand (RBNZ) will increase its monitoring of the sector rather than take immediate regulatory action. The central bank acknowledges that there are significant risks from stablecoins and other private money innovations, but there are also opportunities, along with significant uncertainties about how the sector will develop and where the optimal balance will lie. But central bank agrees that caution is needed, which reinforces the need for enhanced data and monitoring to build understanding.
John Kiff

New Zealand launches CBDC consultation - 0 views

  •  
    The Reserve Bank of New Zealand (RBNZ) launched its second retail central bank digital currency (CBDC) consultation (the first one was in 2021). Based on feedback and preparation of a business case, a decision will be made on whether to proceed to a "preparation" phase. The consultation document advocates for "digital cash" accessible to everyone, including those that don't have a bank account, and should be usable when the power is out or the internet is down, and work via physical cards, and on devices like phones and or watches. https://consultations.rbnz.govt.nz/money-and-cash/digital-cash-in-new-zealand/
John Kiff

Why NZ central bank quip about people trusting printed money is dangerous - 0 views

  •  
    "During a parliamentary committee hearing, Adrian Orr, Governor of the Reserve Bank of New Zealand made a joke. 'It's a great business to be in central banking. You print money and people believe it. Touch wood,' said Orr. The Committee laughed."
1 - 4 of 4
Showing 20 items per page