A visit to New Zealand is a step back to a time before the pandemic, when large crowds still congregated at events. New Zealand has been amongst the most successful in beating back COVID-19 and is bearing financial fruits with its enviable, relatively positive economic performance. But a strong recovery is not guaranteed for the country—which, while an island, depends on the rest of the world for its prosperity.
Reserve Bank of New Zealand
The Reserve Bank of New Zealand (RBNZ) regulates banks operating in the country to ensure a safe and efficient domestic financial system, but a high percentage of bank assets that fall under its domain are foreign owned, leading to the challenge of compliance with the bank’s home regulations and New Zealand’s, as its host. However, foreign-owned banks can and do thrive in New Zealand’s soundly maintained financial sector.