The Reserve Bank regulates banks, insurers and non-bank deposit takers (including finance companies that take deposits from the public, building societies and credit unions), for the purpose of promoting the maintenance of a sound and efficient financial system. The Bank’s approach to prudential supervision is described in our Statements of supervisory and enforcement approaches.
The Bank is also one of three supervisors tasked with ensuring firms meet obligations designed to help deter and detect money laundering and terrorist financing (known as anti-money laundering or AML).
The Reserve Bank supervises banks, non-bank deposit takers and life insurers to ensure they meet obligations designed to help deter and detect money laundering and terrorist financing.
There are many potential incidents that could directly or indirectly impact the financial system in a way that could significantly damage or impede the soundness or efficiency of the financial system.