{
  "title": "New Zealand: Financial Sector Assessment Program: Technical Note-Contingency Planning and Crisis Management Framework",
  "publication": "IMF Staff Country Reports, May 10, 2017",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2017/05/10/new-zealand-financial-sector-assessment-program-technical-note-contingency-planning-and-44899",
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  "summary": "This Technical Note assesses the level of implementation of the Contingency Planning and Crisis Management Framework in New Zealand.",
  "publishDate": "2017-05-10",
  "series": "IMF Staff Country Reports",
  "sections": [
    {
      "heading": "Assessment overview",
      "content": "- This Technical Note assesses the level of implementation of the Contingency Planning and Crisis Management Framework in New Zealand.\n- Work has already begun to identify necessary resources, such as rosters of potential statutory managers and personnel from government agencies and the private sector who could be mobilized to deal with a crisis.\n- This work needs to be further developed."
    },
    {
      "heading": "Key findings",
      "content": "- Rosters of potential statutory managers and personnel from government agencies and the private sector have been initiated but require further development.\n- The Reserve Bank of New Zealand should continue to document the procedure for appointment of a statutory manager, open bank resolution, and other resolution options.\n- The Treasury should complete “shelf” agreements, which may be required for a Crown guarantee or other support in a crisis."
    },
    {
      "heading": "Policy recommendations",
      "content": "- Further develop and operationalize rosters of potential statutory managers and mobilizable personnel across government agencies and the private sector.\n- Reserve Bank of New Zealand: continue documentation of procedures for:\n  - appointment of a statutory manager;\n  - open bank resolution;\n  - other resolution options.\n- The Treasury: complete “shelf” agreements to enable timely provision of a Crown guarantee or other forms of support in a crisis."
    },
    {
      "heading": "Subjects and keywords",
      "content": "- Subjects: Bank resolution framework, Banking, Crisis management framework, Deposit insurance, Financial crises, Financial institutions, Global financial crisis of 2008-2009, Insurance companies\n- Keywords: annual testing, bank creditor recapitalization, Bank resolution framework, bridge bank option, CR, Crisis management framework, Deposit insurance, Global, Global financial crisis of 2008-2009, Insurance companies, ISCR, liquidity facility, parent bank, public funds\n\n---\n\n Content in this bundle\n\n- Country Report\n  - Country Report (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Country Report (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/cr/issues/2017/05/10/new-zealand-financial-sector-assessment-program-technical-note-contingency-planning-and-44899"
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    "Published: May 10, 2017",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475599848.002",
    "This Technical Note assesses the level of implementation of the Contingency Planning and Crisis Management Framework in New Zealand.",
    "Work has already begun to identify necessary resources, such as rosters of potential statutory managers and personnel from government agencies and the private sector who could be mobilized to deal with a crisis.",
    "This work needs to be further developed.",
    "Rosters of potential statutory managers and personnel from government agencies and the private sector have been initiated but require further development.",
    "The Reserve Bank of New Zealand should continue to document the procedure for appointment of a statutory manager, open bank resolution, and other resolution options.",
    "The Treasury should complete “shelf” agreements, which may be required for a Crown guarantee or other support in a crisis.",
    "Further develop and operationalize rosters of potential statutory managers and mobilizable personnel across government agencies and the private sector.",
    "Reserve Bank of New Zealand: continue documentation of procedures for:",
    "The Treasury: complete “shelf” agreements to enable timely provision of a Crown guarantee or other forms of support in a crisis.",
    "Subjects: Bank resolution framework, Banking, Crisis management framework, Deposit insurance, Financial crises, Financial institutions, Global financial crisis of 2008-2009, Insurance companies",
    "Keywords: annual testing, bank creditor recapitalization, Bank resolution framework, bridge bank option, CR, Crisis management framework, Deposit insurance, Global, Global financial crisis of 2008-2009, Insurance companies, ISCR, liquidity facility, parent bank, public funds",
    "**Country Report**"
  ],
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