Open 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. This consultation paper has two parts. You may choose to respond to one or both parts and answer whichever questions are relevant to you.
Closed consultations
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,...
Proposal to recommend that HVCS is designated
We are proposing to recommend that the Minister of Finance designates the High Value Clearing System (HVCS). This proposal is made under the Financial Market Infrastructures (FMI) Act 2021. The HVCS is a pure payment system operated by Payments NZ and has not been regulated before. The HVCS processes large payments that cannot be reversed, such as house settlements. Why we are making this proposal Designating the HVCS would allow the Reserve Bank of New Zealand – Te Pūtea...
Access to basic transaction accounts
Financial inclusion is an important feature of a financial system that supports economic participation and prosperity. Financial inclusion is one of five priorities for the Council of Financial Regulators (CoFR). CoFR has developed an issues paper highlighting opportunities to reduce barriers to opening basic transaction accounts. This paper aims to start a conversation on the issue of access to basic transaction accounts and supports greater collaboration on the design and...
Depositor Compensation Scheme (DCS) product hierarchy policy
We are engaging with the deposit taking sector on our proposed Depositor Compensation Scheme (DCS) product hierarchy policy. This policy will determine the order in which deposit products (or types of accounts) will be paid out under a DCS payout event or in the case of a DCS contribution to resolution of a deposit taker. Following feedback, we intend to publish a finalised product hierarchy policy document by June 2025. How to have your say Email...