Regulatory Alerts2022-05-17
DRAFT BS 15: Significant Acquisitions Policy
The Reserve Bank of New Zealand issues Draft BS 15 to regulate significant acquisitions and business combinations by locally incorporated registered banks. The policy mandates a 10-day prior notification for transactions exceeding 15% of tier 1 capital or total assets, while requiring a formal notice of non-objection for deals reaching or exceeding the 25% threshold. These requirements apply to various financial acquisitions, excluding specific government debt instruments, and are assessed based on financial system soundness and risk management adequacy.
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