Minister of
Finance
Finance Minister Grant Robertson and Reserve
Bank Governor Adrian Orr have updated the Memorandum of
Understanding (MoU) on macro-prudential policy to further
protect the financial system and support the Government’s
housing objectives.
“This change will ensure that
the Reserve Bank has the flexibility to respond to emerging
financial stability risks and deploy appropriate tools as
required,” Grant Robertson said.
“I have largely
agreed to the Treasury and Reserve Bank’s proposed update
to the MOU to add debt serviceability tools, but as I
indicated in June this extension should not unduly impact
first home buyers. As such, we have agreed further wording