The Reserve Bank of New Zealand must return NZD 10.1 million to the government as the Finance Minister rejected the use of unused funds for core projects.
智通财经2026/09/10 03:56Show original
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(1) New Zealand Finance Minister Willis has rejected the Reserve Bank’s request to use unused funds from previous years for five "core" projects, meaning the Reserve Bank of New Zealand must return NZD 10.1 million (approximately USD 5.9 million) to the government. This sum will be handed back through the dividend payment process. (2) According to a letter Willis sent to Reserve Bank of New Zealand Board Chair Roger Finlay on June 24 (published by the Treasury on Thursday), she expressed her expectation for fiscal discipline, including the ongoing assessment of the central bank's cost efficiency and the identification of opportunities for savings; priority projects should be advanced within the limits of existing funding. (3) To provide certainty for the central bank over the coming years, Willis also set out assessment criteria: applications must include evidence that project delays were caused by factors beyond the central bank’s control and explain why funding in the next financial year is insufficient to cover costs; the central bank must also identify any risks affecting the value of funds and service delivery.
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