Open consultations
Identity Verification Code of Practice Update
The Anti-Money Laundering and Countering Financing of Terrorism (“AML/CFT”) Supervisors (the Reserve Bank of New Zealand (“RBNZ”), Financial Markets Authority (“FMA”) and Department of Internal Affairs Te Tari Taiwhenua (“DIA”) are inviting submissions on their proposal to update the Identity Verification Code of Practice (“IVCOP”). The IVCOP is issued under Part 2 Subpart 5 of the AML/CFT Act 2009 and provides a statement of practice that assists reporting entities to...
Group Supervision Policy for deposit takers
This consultation paper outlines how we propose to supervise New Zealand deposit takers in group structures, particularly those that have subsidiaries that operate overseas. The Deposit Takers Act 2023 (DTA) enables RBNZ to supervise New Zealand deposit takers in a way that ensures group-wide oversight and risk management across both domestic and international activities. This consultation seeks to clarify our requirements and reduce regulatory uncertainties. It also aims to...
DTA Standards exposure drafts (tranche 1)
Tranche 1 of the Deposit Takers Act 2023 (DTA) Standards consultation package includes exposure drafts of the: Liquidity Standard Depositor Compensation Scheme Standard Lending Standard Incorporation outside New Zealand Standard The package also includes accompanying guidance for each standard. We have published a cover note which provides background on the consultation, sets out the rationale behind the drafting of the exposure draft standards and...
Closed consultations
Use of the word ‘bank’ under the DTA
This consultation paper sets out our proposal for which entities should be able to use restricted words in their name or title once the Deposit Takers Act 2023 (DTA) is fully in force (currently expected on 1 December 2028). There are restrictions on the use of the words 'bank', 'banker' and 'banking' (“restricted words”) under our prudential legislation. The paper seeks feedback on: a proposal to authorise the use of the term ‘bank’ by all licensed deposit...
Second tranche of Deposit Takers Regulations under the DTA
This consultation paper seeks feedback on proposed regulations relating to the regulatory perimeter, set through the meaning of ‘deposit taker’, under the Deposit Takers Act (DTA). These proposals relate to classes of entities, including financial technology firms (fintechs) and overseas banks. The prudential regulatory perimeter defines the types of entities that are subject to the licensing process and ongoing prudential supervision under the DTA. The paper also...
Liquidity Management Review - Consultation on Open Market Operations and the Committed Liquidity Facility
We are proposing and seeking feedback on key design considerations and operational parameters for: Open Market Operations (OMOs), a key part of our liquidity management framework, and the Committed Liquidity Facility (CLF), previously announced as part of the forthcoming prudential Liquidity Standard. Read the consultation paper: Liquidity Management Review - Open Market Operations and the Committed Liquidity Facility consultation paper (PDF, 831KB) ...
Review of key capital settings
We are seeking feedback on our policy proposals for key capital settings for deposit takers. These proposals are made as part of the 2025 review of key capital settings. Our consultation paper includes: analysis on how the context has changed since the 2019 decisions, including how our capital settings compare internationally 2 policy options for different capital requirements for feedback a proposal to replace Additional Tier 1 capital with simpler forms of capital,...