We do this mainly for our own purposes, in recognition of the vital role of our banking system to the New Zealand economy, but there is also a significant element of contributing to the effective supervision of the multinational banking groups of which the overseas-owned New Zealand banks are a part.
As regards crypto-assets, the Bank of Italy is dedicated to limiting the risks that could arise from an uncontrolled spread of these instruments, whose market capitalization at global level tripled in 2021, reaching $ billion. We have informed the public about the dangers of these digital assets whose value is intrinsically unstable and that can also facilitate illegal transactions.