Regulatory Alerts2022-05-17
New Zealand Bankers Association Submission on the Financial Market Infrastructures Bill Exposure Draft
The New Zealand Bankers Association submitted feedback to the Reserve Bank of New Zealand regarding the Financial Market Infrastructures Bill exposure draft. The submission supports Payments NZ's position while requesting clarification on definitions for financial market infrastructures and operators, particularly concerning bilateral systems like SBI and HVCS. It also raises concerns about the practicality of crisis management powers, the sufficiency of mandated rule change timeframes, and the alignment of the Bill with the ongoing RBNZ Act review.
Share