Use of the word ‘bank’ under the DTA
Results updated 4 Jun 2026
In late 2025 we sought feedback on proposals for the use of the word 'bank' under the Deposit Takers Act 2023 (DTA).
We received 12 submissions. Thank you to those who participated in the consultation.
Final policy decisions were announced on 4 June 2026. Read the media release on the RBNZ website.
A summary of submissions and our response, copies of the submissions, and our Regulatory Impact Statement are available below.
Read the summary of submissions and our response (PDF, 356KB)
Read all submissions (PDF, 2.8MB)
Read the Regulatory Impact Statement (PDF, 440KB)
Next steps
We will issue new authorisations that will take effect on 1 December 2028.
Go to the DTA implementation timeline on the RBNZ website.
Overview
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 takers under the DTA
- continuing our current approach to authorising the use of the word ‘bank’ in New Zealand for overseas banks not licensed by the Reserve Bank.
Read the consultation paper
Restrictions on use of the word ‘bank’ under the Deposit Takers Act (DTA) consultation paper (PDF, 500KB)
Submissions closed at 5pm on 24 November 2025.
Please read - consultation on proposed regulations under the DTA
We are consulting on proposed regulations under the DTA concurrently.
This companion paper seeks feedback on proposed regulations under the DTA relating to the regulatory perimeter and other matters requiring regulations prior to the DTA licensing period.
We encourage submitters to read and consider both consultation papers side by side, even if you only intend to submit on one.
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