Depositor Compensation Scheme Transitional Standard

Closed 7 Feb 2025

Opened 6 Dec 2024

Contact

dta@rbnz.govt.nz

Results updated 21 May 2025

The summary of submissions on the Deposit Takers (Depositor Compensation Scheme Transitional Provisions) Standard 2025 (Transitional Standard) consultation have been published.  

The RBNZ consulted on a draft of this Transitional Standard between 6 December 2024 and 7 February 2025 and received 10 submissions from a combination of deposit takers and industry bodies. Thank you to everyone who provided feedback.  

The Transitional Standard outlines how deposit takers must collect and store depositor information in the event of a deposit taker failure to ensure timely payments under the Depositor Compensation Scheme. The Transitional Standard is now published (PDF, 401KB). 

Overview

A payout solution is a critical component of the DCS to be operational in July 2025. This consultation paper outlines our proposal for a transitional standard that requires deposit takers with internet banking to build their own DCS webpage according to requirements set out in a standard. The webpage would only be activated in the event of the deposit taker failing.

Because of the short time for finalising and issuing the standard, an exposure draft of the standard has been included with this consultation paper.

Read the consultation paper (PDF, 367KB)

Read the exposure draft of the transitional standard (PDF, 213KB)

How to have your say

  • You can have your say using the online consultation survey. Choose to either complete the survey or upload a PDF of your submission. 
  • If you choose to complete the survey, a list of the questions from the consultation paper are listed on the page for each standard.
  • You can save and come back to your response at any time before the consultation close date.
  • Once you have submitted your response, a copy of your submission will be emailed to the contact email address provided.