Reserve Bank IT stays put

The Reserve Bank won't be moving its most sensitive IT infrastructure to Australia, but says in a statement it could reconsider its position in the long term.

The Reserve Bank won’t be moving its most sensitive IT infrastructure to Australia, but says in a statement it could reconsider its position in the long term.

The decision not to move the platforms used for interbank settlements and wholesale clearing of “high-value debt securities and equities” follows the breakdown of talks between the Reserve Bank and the Australian firm Austraclear and has nothing to do with a report commissioned by the State Services Commission which outlined the move as potentially dangerous to New Zealand’s infrastructure, the bank says.

Current contracts for the support and maintenance of the Reserve Bank systems are due to expire in December 2002.

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