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Reserve Bank Releases Guidance For Non-bank Risk Programmes

Fuseworks Media
Fuseworks Media

Wellington, July 13 NZPA - The Reserve Bank has released guidance for risk management plans it is requiring non-banks to formulate.

Finance companies, building societies and credit unions are required to have a risk management programme from September 1.

The programme needs to show how they will identify and manage credit risk, liquidity risk, market risk and operational risks.

"The development of these regulations is another positive step forward in implementing the new prudential regime for non-banks which is aimed at improving the future resilience of New Zealand's non-bank financial sector," said Reserve Bank Deputy Governor Grant Spencer.

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