Our initial assessment identified nine FMIs that are either systemically important or potentially of systemic importance. Four of them are already designated systems: ESAS, NZClear, CLS and NZCDC. Two of the Payments NZ systems – SBI and HVCS – are also likely to be designated under the new framework.
What we had was mainly supply side data from our financial institutions. In 2012, we conducted a financial competency survey to measure the level of financial competency of our Fijian households. The findings from this survey were used to develop our initial National Financial Literacy Strategy.