Regulatory Alerts2022-02-27
Restrictions on use of the word 'bank'
The Reserve Bank of New Zealand restricts the use of the words 'bank', 'banker', and 'banking' under the Banking (Prudential Supervision) Act 1989 to help the public identify registered banks. The regulator may authorize non-registered entities, such as overseas banks and non-financial institutions, to use these terms in names or titles under specific conditions and subject to public disclaimers in advertising. This document outlines the authorization process, lists approved overseas banks, and details compliance requirements for advertisements containing restricted words.
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