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
