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Reserve Bank Of Australia Resets Interchange.
The Reserve Bank of Australia reset interchange rates on Nov. 22. Under the new structure, "the weighted-average interchange fee in each of these three schemes [Bankcard, Visa, and MasterCard] must be no greater than a common [cost- based] benchmark." Previously, each card had its own benchmark for interchange fees based on what those card associations said were their costs. The new regulations take effect next November.
The Bank's Payments System Board says it took the step because under the previous system, it found that card issuers had an incentive to issue cards with high interchange, even if the differences between the various cards was small. Since normal competition doesn't affect interchange, the Board said, it decided that a common benchmark would be a better basis ...
- The Reserve Bank of New Zealand Amendment Act 2003.
- Magazine article from: The Reserve Bank of New Zealand Bulletin Twaddle, James March 1, 2004 700+ words
In August 2003, the Reserve Bank of New Zealand Amendment Act 2003...legislative framework in which the Reserve Bank operates. This article provides...1 Introduction The Reserve Bank of New Zealand Amendment Act 2003...
- Is New Zealand's Reserve Bank Act of 1989 an optimal central bank contract?
- Magazine article from: Journal of Money, Credit & Banking Walsh, Carl E. November 1, 1995 700+ words
...interest has been generated by the Reserve Bank of New Zealand Act of 1989...designed to give New Zealand's Reserve Bank greater independence from political...accountability on the part of the Reserve Bank for the achievement of its policy...
- The Reserve Bank's payment system oversight role applied to settlement risk in...
- Magazine article from: The Reserve Bank of New Zealand Bulletin Chan, Phoebe Irvine, Stuart December 1, 2008 700+ words
The Reserve Bank oversees the payment system for the purpose...financial system. Consistent with the Reserve Bank's relatively light-handed payment system oversight powers, the Reserve Bank's approach is to be clear about its objectives...
- Evolution of the Reserve Bank's liquidity facilities.(ARTICLES)
- Magazine article from: The Reserve Bank of New Zealand Bulletin Nield, Ian December 1, 2008 700+ words
...in the settlement accounts that the Reserve Bank offers to the commercial banks. The...liquidity operations undertaken by the Reserve Bank--the standing facilities and open...article discusses developments in the Reserve Bank's liquidity facilities over the past...
- For the record: recent press releases. (News Releases).(Reserve Bank of New...
- Magazine article from: The Reserve Bank of New Zealand Bulletin March 1, 2002 700+ words
...bank registered 29 November 2001 The Reserve Bank today announced that it had registered...operate under the name "Kiwibank". Reserve Bank Deputy Governor Rod Carr commented...4.75 per cent 23 January 2002 The Reserve Bank today left the Official Cash Rate unchanged...
- Reserve Bank foreign exchange intervention principles: 30 March 2004.(News...
- Magazine article from: The Reserve Bank of New Zealand Bulletin June 1, 2004 700+ words
The Reserve Bank today released a letter from the Bank to the...The letter is attached. This follows the Reserve Bank recommending, and the Government resolving, that the Reserve Bank should have the financial capacity to undertake...
- The relationship between monetary and financial stability.(Reserve Bank of New...
- Magazine article from: The Reserve Bank of New Zealand Bulletin Hunter, Leni June 1, 2008 700+ words
The Reserve Bank of New Zealand takes distinct actions...business cycle. 1 Introduction The Reserve Bank's recent Financial Stability Reports...line with other central banks, the Reserve Bank of New Zealand has responded with extended...
- The Reserve Bank of India.(Brief Article)(Review)
- Magazine article from: Business History COLLINS, MICHAEL October 1, 1999 700+ words
G. BALACHANDRAN, The Reserve Bank of India, 1951-1967 (Delhi...commissioned volume of the history of the Reserve Bank of India, and its publication...chronological) account of the Reserve Bank's main activities as it evolved...
