Speech: Delivering sound and innovative financial services for New Zea

New Zealand’s rather unique financial market and institutional structure suggest that there is room for further development. This includes expanding the width and breadth of New Zealand’s capital market, enhancing the performance of the non-bank financial sector, and raising the total pool of financial savings and financial literacy. In doing so, New Zealand’s financial system will be more dynamic and sound, potentially raising our sustainable economic growth performance.

This paper outlines the important influence the financial system has on economic growth, highlights some of the unique features of our system, and discusses how the potential gaps and vulnerabilities in New Zealand’s financial system could be addressed (including actions the Bank is undertaking).

The important role of the financial system