New Zealand's central bank advances plans for Depositor Compensation Scheme (DCS) under Deposit Takers Act, offering $100,000 protection per customer starting mid-2025.

New Zealand's central bank, Te Pūtea Matua, advances plans for the Depositor Compensation Scheme (DCS) under the new Deposit Takers Act (DTA). The DCS, set to launch in mid-2025, aims to boost New Zealanders' confidence in bank deposits, with $100,000 protection per customer, per deposit taker. The DTA legislation is expected in 2028. Consultation includes feedback on levy calculation, coverage, and operations. Once operational, the DCS will contribute to a stable financial environment.