Story: Reserve Bank

Bank of New Zealand

Bank of New Zealand

The Bank of New Zealand (BNZ) came close to collapse between 1989 and 1990 and had to be rescued by the government. This cartoon explores the risk to the government, represented by Prime Minister David Lange. His feet have slipped off his trapeze as he dives to rescue another artiste, the BNZ. The Reserve Bank first began supervising banks in 1987 – the BNZ situation showed that supervision could not always prevent bank failures or near-failures.

Courtesy of Peter Bromhead

Using this item

Alexander Turnbull Library
Reference: A-225-178
Cartoon by Peter Bromhead

Permission of the Alexander Turnbull Library, National Library of New Zealand, Te Puna Mātauranga o Aotearoa, must be obtained before any re-use of this image.

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How to cite this page:

John Singleton, 'Reserve Bank - Independence and supervision', Te Ara - the Encyclopedia of New Zealand, http://www.TeAra.govt.nz/en/cartoon/33463/bank-of-new-zealand (accessed 24 August 2019)

Story by John Singleton, published 20 Jun 2012