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The importance of market discipline in the Reserve Bank’s prudential regime

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The Reserve Bank’s prudential framework is based on a three pillar approach that relies on self-discipline from regulated entities, market discipline provided by market participants, and regulatory discipline. Since the global financial crisis, the regulatory pillar has been bolstered in line with international regulatory developments. This article discusses the role of market discipline in the current framework and its on-going importance to the Reserve Bank’s prudential regime.

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  • Cavan O’Connor-Close & Neroli Austin, 2016. "The importance of market discipline in the Reserve Bank’s prudential regime," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 79, pages 1-15, February.
    • Handle: RePEc:nzb:nzbbul:feb2016:02
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    File URL: http://www.rbnz.govt.nz/-/media/ReserveBank/Files/Publications/Bulletins/2016/2016feb79-2.pdf
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    Cited by:

    1. Tobias Irrcher, 2019. "Enriching disclosures: The Bank Financial Strength Dashboard," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Are post-crisis statistical initiatives completed?, volume 49, Bank for International Settlements.
    2. Chris Hunt, 2016. "The 2016 New Zealand Financial Sector Assessment Programme (FSAP)," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 79, pages 1-17, April.

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