Reserve Bank of New Zealand’s Financial Dashboard celebrates first year of operations

One has been fascinated by RBNZ’s financial dashboard ever since it was launched last year. I also argued for RBI to have a similar dashboard in this piece. It won innovation of the year award this year.

The central bank celebrates one year of the dashboard with this article:

Just over a year ago, we launched the Bank Financial Strength Dashboard, a website all about the financial health of registered banks in New Zealand. This article discusses our experience with running the Dashboard as well as the Dashboard’s role in promoting a sound and efficient financial system.

We use website user statistics to get an early indication of how well the Dashboard is achieving its objective of better informing market participants about the financial strength of banks.

Uptake for the Dashboard has been strong. It receives nearly 10,000 visits each quarter. To put this in perspective, the Dashboard’s predecessor (the little known G1 table) received about 500 visits per quarter. The Dashboard has also received international acclaim by winning the Initiative of the year award from the Central Banking Publication. These are both good indications that the Dashboard is meeting our admittedly lofty expectations. However, there is always room to do more and do better.

Further improvements to the Dashboard are being considered. This includes a Te Reo Māori version of the Dashboard; API functionality; better information on trends; and the possible addition of new metrics. The Reserve Bank is also considering a dashboard approach to improve prudential disclosures in the insurance sector.

The Reserve Bank is committed to supporting the broader effort to help build the financial capability of New Zealanders. The Dashboard contributes to this broader effort by providing relevant and accessible information on the financial strength of banks to the public.

Not suprised by the response. It is one of its kind.

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