The RBNZ consults on deposit taker standards and crisis management framework under the 2023 Act, seeking public input by Nov 22, 2024.

The Reserve Bank of New Zealand is consulting on proposed standards for deposit takers under the Deposit Takers Act 2023, along with a crisis management framework. The standards will establish minimum requirements for licensed deposit takers, including banks, credit unions, building societies, and finance companies, from 2028. The consultation, open until November 22, 2024, covers non-core standards such as governance, risk management, and lending. The Bank also seeks feedback on its initial policy direction for the new crisis management regime aimed at minimizing economic damage and costs in case of financial distress.

August 21, 2024
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