Reserve Bank to ensure there's enough cash in Christchurch

2:57 pm on 23 February 2011

The Reserve Bank says it is working to ensure financial markets remain stable.

The shallow 6.3-magnitude quake struck at 12.51pm on Tuesday, 10km south-east of the central city, causing many deaths and widespread devastation.

The Reserve Bank governor, Allan Bollard, says it is talking with banks to ensure there is enough cash in Christchurch.

Dr Bollard says there are ample cash reserves at the moment, and it will issue more to banks as required.

He says the central bank is monitoring financial markets, but New Zealand has well-established emergency procedures and insurance protocols.