The Reserve Bank of New Zealand, known in Maori as Te Putea Matua, was established on August 1, 1934 under the Reserve Bank of New Zealand Act 1933 and is headquartered in Wellington. It manages New Zealand's currency and monetary policy, issuing the New Zealand dollar, setting the Official Cash Rate to control inflation, and carrying out prudential regulation of the country's banks and insurers. The bank operates as a state-owned entity with statutory independence from the government under the Reserve Bank of New Zealand Act 2021, paying an annual dividend to the Crown while remaining accountable to Parliament.
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