Review of key capital settings

Results updated 27 Feb 2026

Between August and October 2025, we sought feedback on our policy proposals for key capital settings for deposit takers. These proposals were made as part of the 2025 review of key capital settings.

We received submissions from 43 submitters overall.

Final decisions on key capital settings were announced on 17 December 2025. These decisions were informed by feedback to the consultation paper, reports from independent external experts and analysis carried out by the Reserve Bank. 

Read the final decisions

On 27 February 2026 we published a summary of submissions received to the consultation paper, with our detailed responses to the feedback.

Read the Summary of Submissions (PDF, 920KB)

Download the submissions A (ZIP, 10.3MB)
Download the submissions B - G (ZIP, 6.15MB)
Download the submissions H - N (ZIP, 9.67MB)
Download the submissions O - Z (ZIP, 4.26MB)

Further information including next steps

Why we reviewed key capital settings

We considered it an appropriate time to reassess key capital settings. There had been changes in the legislative and broader environments since we last reviewed capital requirements between 2017 and 2019. Stakeholders had also expressed views that our bank capital requirements are unreasonably conservative and undermining competition and growth in the New Zealand economy. 

During this 2025 review, we assessed whether the Reserve Bank’s capital requirements for deposit takers are set at the appropriate level to support a stable financial system – one where resilient financial markets, institutions and infrastructures enable a productive and sustainable economy and ultimately promote the prosperity and wellbeing of all New Zealanders.