Communications, reports, documents, and papers relating to FSAP, and OBR.
Harry Smith made this Official Information request to Reserve Bank of New Zealand
Response to this request is long overdue. By law Reserve Bank of New Zealand should have responded by now (details and exceptions). The requester can complain to the Ombudsman.
From: Harry Smith
Dear Reserve Bank of New Zealand,
I request the following under the Official Information Act 1982
1. All internal communications, reports, recommendations and draft documents, relating to the findings of the IMF Financial Sector Assessment Program (FSAP) reports, including technical notes on Contingency Planning and Crisis Management Framework, released in May 2017, and all communications with the IMF and Ministers of the Crown in respect thereof.
2. All research, communications and recommendations in respect of Crown retail deposit guarantees/insurance and wholesale bank guarantees since 1 January 2010.
3. All assessments, papers, advice (including internal and external legal advice), drafts in respect of Open Bank Resolution (OBR), including required/proposed amendments to the Reserve Bank of New Zealand Act 1989, and fulfillment of any actions/recommendations determined by cabinet. This should include all working papers in respect of the Regulatory Impact Assessments (RIA) for OBR and any reassessment of that RIA as part of the revision of Financial Stability Department document BS11 (Outsourcing Policy).
4. All information, reports, policies in respect of crisis management planning relating to the failure of a large New Zealand bank, including scenario and strawman assumptions.
Furthermore, I seek the following specific papers
5. Paper to Minister of Finance on additional funding required to implement FSAP recommendations.
6. Paper to Minister of Finance seeking Cabinet approval to consult on OBR de minimis model.
Awaiting your reply.
From: RBNZ Info
Reserve Bank of New Zealand
The Reserve Bank of New Zealand information service is operating with
reduced staffing during the summer holiday period, so responding to your
email may take a few extra days. We expect to return to normal service
from 8 January 2018.
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From: Roger Marwick
Reserve Bank of New Zealand
Dear Mr Smith
The Reserve Bank of New Zealand has received your request, made under the terms of section 12 of the Official Information Act (the OIA), seeking:
1. All internal communications, reports, recommendations and draft documents, relating to the findings of the IMF Financial Sector Assessment Program (FSAP) reports, including technical notes on Contingency Planning and Crisis Management Framework, released in May 2017, and all communications with the IMF and Ministers of the Crown in respect thereof.
2. All research, communications and recommendations in respect of Crown retail deposit guarantees/insurance and wholesale bank guarantees since 1 January 2010.
3. All assessments, papers, advice (including internal and external legal advice), drafts in respect of Open Bank Resolution (OBR), including required/proposed amendments to the Reserve Bank of New Zealand Act 1989, and fulfilment of any actions/recommendations determined by cabinet. This should include all working papers in respect of the Regulatory Impact Assessments (RIA) for OBR and any reassessment of that RIA as part of the revision of Financial Stability Department document BS11 (Outsourcing Policy).
4. All information, reports, policies in respect of crisis management planning relating to the failure of a large New Zealand bank, including scenario and strawman assumptions.
5. Paper to Minister of Finance on additional funding required to implement FSAP recommendations.
6. Paper to Minister of Finance seeking Cabinet approval to consult on OBR de minimis model.
Subject to the provisions of the OIA, you will be notified of the outcome of your request as soon as practicable, but not later than 13 February 2018, being 20 working days after the date of receipt.
Sincerely
Roger Marwick
External Communications Adviser | Reserve Bank of New Zealand | Te Pūtea Matua
2 The Terrace, Wellington 6011 | P O Box 2498, Wellington 6140
T. + 64 4 471 3694
Email: [email address] | www.rbnz.govt.nz
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From: Ngarangi Haerewa
Reserve Bank of New Zealand
Hello Mr Smith,
Please see in the attached document, a response to your OIA request.
Do get in touch if there are any issues with opening the document.
Regards,
Ngarangi Haerewa
Communications Advisor | Reserve Bank of New Zealand | Te Pūtea Matua
2 The Terrace, Wellington 6011 | P O Box 2498, Wellington 6140
T. + 64 4 471 3714
Email: [email address] | www.rbnz.govt.nz
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From: Ngarangi Haerewa
Reserve Bank of New Zealand
Hello again Mr Smith,
I am contacting you to amend the previous response I sent to you as of Wednesday 17 January.
The amendment refers to line 4, page 2 which previously stated, "As for sections 4 and 6, there is not enough detail for us to identify the documents within our systems."
The line has been amended to reference section 5 rather than 4. It reads, "As for sections 5 and 6, there is not enough detail for us to identify the documents within our systems."
You can see the correction in the attached letter.
Please feel free to contact me should you have any other queries.
Regards,
Ngarangi Haerewa
Communications Advisor | Reserve Bank of New Zealand | Te Pūtea Matua
2 The Terrace, Wellington 6011 | P O Box 2498, Wellington 6140
T. + 64 4 471 3714
Email: [email address] | www.rbnz.govt.nz
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From: Ngarangi Haerewa
Reserve Bank of New Zealand
Hello again Mr Smith,
I'm just wanting to touch base to see if you've considered refining your request as per the 19 January email?
Regards,
Ngarangi Haerewa
Communications Advisor | Reserve Bank of New Zealand | Te Pūtea Matua
2 The Terrace, Wellington 6011 | P O Box 2498, Wellington 6140
T. + 64 4 471 3714
Email: [email address] | www.rbnz.govt.nz
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From: Ngarangi Haerewa
Reserve Bank of New Zealand
Hello Mr Smith,
I am contacting you to let you know of the Reserve Bank’s decision to extend the timeframe for deciding on your OIA request for:
"All internal communications, reports, recommendations and draft documents, relating to the findings of the IMF Financial Sector Assessment Program (FSAP) reports, including technical notes on Contingency Planning and Crisis Management Framework, released in May 2017, and all communications with the IMF and Ministers of the Crown in respect thereof.
All research, communications and recommendations in respect of Crown retail deposit guarantees/insurance and wholesale bank guarantees since 1 January 2010.
All assessments, papers, advice (including internal and external legal advice), drafts in respect of Open Bank Resolution (OBR), including required/proposed amendments to the Reserve Bank of New Zealand Act 1989, and fulfilment of any actions/recommendations determined by cabinet. This should include all working papers in respect of the Regulatory Impact Assessments (RIA) for OBR and any reassessment of that RIA as part of the revision of Financial Stability Department document BS11 (Outsourcing Policy).
All information, reports, policies in respect of crisis management planning relating to the failure of a large New Zealand bank, including scenario and strawman assumptions.
Paper to Minister of Finance on additional funding required to implement FSAP recommendations.
Paper to Minister of Finance seeking Cabinet approval to consult on OBR de minimis model."
The new deadline for this request is 13 March 2018. On 19 January 2018 the Reserve Bank contacted you suggesting that you refine your request as it would necessitate searching through a large quantity of information – you were informed that a preliminary search had uncovered 1000+ documents potentially in scope of your request. You were also informed of the Reserve Bank’s charging policy. We delayed deciding on your request to provide time for you to refine your request.
Having received no response from you the Bank now requires more time to more fully investigate your request and decide whether fixing a charge would enable any of the request to be granted.
There is some information already publicly available that may satisfy elements of your request. You can see information on OBR, FSAP and Outsourcing at the below links.
https://www.rbnz.govt.nz/regulation-and-...
https://www.rbnz.govt.nz/regulation-and-...
https://www.rbnz.govt.nz/regulation-and-...
The Bank understands that you have made a similar request of Treasury. Since making the request, the Bank and Treasury have been working co-operatively to meet some elements of your request. While some elements of your request, namely part 5, might not be met by us, we understand that this is likely to be included in the Treasury’s response.
You have the right to seek a review by the Ombudsman of this decision to extend the timeframe for responding to your request, under section 28 of the Official Information Act.
Yours sincerely
Ngarangi Haerewa
Communications Advisor | Reserve Bank of New Zealand | Te Pūtea Matua
2 The Terrace, Wellington 6011 | P O Box 2498, Wellington 6140
T. + 64 4 471 3714
Email: [email address] | www.rbnz.govt.nz
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Communications, reports, documents, and papers, relating to FSAP and OBR.
To The Treasury by Harry Smith
Harry Smith left an annotation ()
I will try to resolve the issue of this request with the Reserve Bank privately, and publish any information publicly when I receive it. This is because of the vast number of documents that I expect to receive (which will go on Google Drive or another hosting platform), and because there is sensitive information in my complaint.
Link to this