The purpose of this Act is to promote the prosperity and well-being of New Zealanders, and contribute to a sustainable and productive economy, by providing for the Reserve Bank of New Zealand, as the central bank, to be responsible for—
registering banks and undertaking prudential supervision of registered banks; and
carrying out other functions, and exercising powers, specified in this Act.
Section 1A: replaced, on 1 July 2022, by section 299(1) of the Reserve Bank of New Zealand Act 2021 (2021 No 31).