The charter commits the Reserve Bank and the financial sector to a mutual understanding of appropriate conduct and culture and is underpinned by the principle of ‘te hunga tiaki’ – the combined stewardship of an efficient system for the benefit of all.
This year the RBNZ had 97 responses from banks and 86 from insurers and says the survey found the bank’s performance is rated significantly higher compared to 12 months ago in terms of the overall relationship.
91% of bank participants gave a rating of 4 or 5 (out of 5) this year compared to 68% in 2020. The banks reported a significant increase in frequency of engagement with the Reserve Bank compared to last year.
This was the first year the insurance sector was surveyed and two-thirds of insurer participants rated their relationship with the Reserve Bank highly (4 or 5 out of 5).
For the full survey and its results, click here.
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