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Proactive Release of Background Papers

The Independent Expert Advisory Panel for the Reserve Bank Act review has been given access to a number of background papers by the Treasury.

They are not an expression of government policy, nor an indication of the Panel’s own work programme.

The Treasury is releasing these documents to be transparent and to help inform the public debate on the Review.  The documents will be released in stages.  A number of these documents are already publicly available.

Background papers for Panel meeting 1

Release Date Creator Title Download

Summary of papers

15 Jan 2018 The Treasury Summary of background papers

Part A: Officials' papers

21 Dec 2017 Reserve Bank of New Zealand Behind the scenes of an OCR decision in New Zealand  
 21 Dec 2017 Reserve Bank of New Zealand Independence with accountability: financial system regulation and the Reserve Bank  
 21 Dec 2017 Reserve Bank of New Zealand Reserve Bank of New Zealand Briefing to Incoming Minister (BIM)  
 21 Dec 2017 The Treasury Letter to the Minister of Finance: Modernising New Zealand’s Macroeconomic Framework: Reserve Bank of New Zealand Act
 21 Dec 2017 The Treasury New Zealand’s Flexible Inflation Targeting Framework
 21 Dec 2017 The Treasury The Monetary Policy Framework (which is supplemented by a paper on “The Divine Coincidence in New Keynesian Theory”)

 21 Dec 2017 Reserve Bank of New Zealand An international comparison of inflation-targeting frameworks  
 21 Dec 2017 Reserve Bank of New Zealand Legislative framework for financial stability in the Reserve Bank of New Zealand Act 1989

Part B: Externally-commissioned (and associated) papers

15 Jan 2018 Iain Rennie Decision-making and Governance at the Reserve Bank of New Zealand 
15 Jan 2018 The Treasury Summary of Iain Rennie Report on Decision-making and Governance - RBNZ
15 Jan 2018 Donald Kohn Peer review and expert comments on “Decision-making and Governance at the Reserve Bank of New Zealand”
15 Jan 2018 Charles Goodhart  Peer review and expert comments on “Decision-making and Governance at the Reserve Bank of New Zealand”
15 Jan 2018 David Archer  Peer review and expert comments on “Decision-making and Governance at the Reserve Bank of New Zealand”
15 Jan 2018 Reserve Bank of New Zealand Reserve Bank comments on “Decision-making and Governance at the Reserve Bank of New Zealand”
15 Jan 2018 Philip Turner  Reflections on the Reserve Bank of New Zealand’s Monetary Policy Round  
15 Jan 2018 Piers Ovenden   The Bank of England’s decision-making structure for macro-prudential policy and financial stability
15 Jan 2018 Lars Svensson Independent Review of the Operation of Monetary Policy in New Zealand  
15 Jan 2018 James Every-Palmer QC  Reserve Bank Prudential Regulation of Banks
15 Jan 2018 Prasanna Gai  The Design, Implementation, and Governance of Macroprudential Policy

Part C: Other background papers

15 Jan 2018 Reserve Bank of Australia Code of Conduct for Reserve Bank Board Members  
 21 Dec 2017 Norway Royal Commission Norges Bank Review 2017 - Official English Language Summary  
 21 Dec 2017 Reserve Bank of New Zealand Norges Bank Review 2017 - Overview
 21 Dec 2017 Lars Svensson What rule for the Federal Reserve? Forecast targeting  

Background papers for Panel meeting 2

Release Date Creator Title Download
26 Mar 2018 Reserve Bank of New Zealand International examples of governance structures at central banks
26 Mar 2018 The Treasury Modern Governance Provisions

Other background papers

Release Date Creator Title Download

Summary of papers

11 Apr 2018 The Treasury Summary of Discussions with External Stakeholders
Last updated: 
Monday, 26 March 2018