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Official Information Act request – Documents and communications relating to workforce modelling and the 5 February 2025 ELT email

T. Gallagher made this Official Information request to Reserve Bank of New Zealand

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From: T. Gallagher

Dear Reserve Bank of New Zealand,

I am making a request under the Official Information Act 1982.

I request the following information:

a) Background documents and analysis that informed the workforce numbers referenced in Governor Adrian Orr’s email to the Executive Leadership Team on 5 February 2025 (specifically, the figures of 742, 640 and approximately 585 staff).

b) Any internal modelling, calculations, spreadsheets, or scenario analysis produced between 1 January and 10 February 2025 that relate to projected staffing levels under the draft 2025–2030 Five-Year Funding Agreement.

c) Internal communications (including emails and briefing notes) between members of the Executive Leadership Team, Finance & Commercial Operations, and People & Culture teams that discuss or refer to projected headcount or workforce reductions in the period 1 January to 10 February 2025.

Notes on scope:

1. I am seeking the factual material and analysis underlying the workforce projections, rather than evaluative comments or free and frank opinions of officials.
2. If parts of any documents are withheld under section 9, I request that you release the remainder of the documents with redactions where necessary.
3. If some information is scheduled for proactive release at a later date, please confirm when and in what format it will be published.

Yours faithfully,

Jack Gallagher

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From: RBNZ Info
Reserve Bank of New Zealand

Kia ora, 

  
Thank you for contacting the Reserve Bank of New Zealand - Te Pūtea
Matua.  
Please note that this is an automatic reply to acknowledge that we have
received your email. 
We aim to respond to you in 14-21 working days. In the meantime, please
read our frequently asked questions below. 
Upcoming Monetary Policy Announcements  
See all the Monetary Policy Announcement and Financial Stability Report
dates for 2025 [1]here. 
 
Money & Cash  

* [2]Returning old or damaged currency 
* [3]The Future of Cash  
* [4]Security and counterfeit detection 
* [5]Using images of currency   

Banknote or coin suggestions   
If your email is offering suggestions related to banknote or coin designs
then it will be kept for review as part of any future work in this area.  
Digital currency engagement
We are continuing to explore a central bank digital currency or "Digital
Cash" for Aotearoa New Zealand. We recently asked people all over the
country their thoughts on a proposed digital currency and here is [6]what
you told us. For more about our work on Digital Cash, check out our
[7]Digital Cash webpage.   

Who we are and what we do  
We are kaitiaki (guardians) of New Zealand’s financial ecosystem, working
to fulfil our purpose of Toitu te Ōhanga, Toitu te Oranga (enabling the
prosperity and wellbeing of all New Zealanders). We deliver on our mandate
by: 

* [8]Operating monetary policy to maintain low and stable inflation  
* [9]Promoting a sound and efficient financial system 
* [10]Meeting the public’s cash needs 
* [11]Overseeing effective payments systems 

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For any queries or clarifications on the [12]data and statistics we
publish, please email [13][email address].  

Firms we regulate  
The Reserve Bank is the prudential regulator of banks, insurers, and
non-bank deposit takers (NBDTs).  

* [14]List of registered banks in New Zealand 
* [15]List of licensed insurers  
* [16]Register of licensed NBDTs 

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The Deposit Takers Act will protect deposits through the Depositor
Compensation Scheme, and increase the stability of our financial system.
You can find more information on our [17]website. Sign up to our regular
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[19]here under the Deposit Takers category.
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the first instance. You can also contact the [20]Banking Ombudsman, the
[21]Insurance and Financial Services Ombudsman, or the [22]Financial
Markets Authority. 

Looking for information about the strength of the financial system?  
Check out our [23]Bank Financial Strength Dashboard. You can also read our
regular assessments of the economy and the financial system: 

* [24]Monetary Policy Statement 
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Please note that the Reserve Bank is not authorised to give legal or
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instead.  
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Reserve Bank staff meet and speak with a wide range of businesses,
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engagements are welcome opportunities to discuss topical issues and
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Please check out the [26]Kōrero webpage for more information on the
programme. To request a speaker, please email [27][email address].  

We’ll be in touch as soon as possible. 

Kind regards | Ngā mihi nui 

Reserve Bank of New Zealand – Te Pūtea Matua  

2 The Terrace, Wellington 6011. PO Box 2498, Wellington 6140     
 
T + 04 472 2029         

E [28][RBNZ request email]   W [29]rbnz.govt.nz  

 

 

 

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References

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27. mailto:[email address]
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