Open consultations
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. The consultations on our initial proposal closed 30 September 2025. We are now seeking further submissions on the...
Closed consultations
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...
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...
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...
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...