Regulatory Alerts2023-11-29
Deposit Takers Act 2023 Regulatory Framework and Standards
The Reserve Bank of New Zealand is implementing the Deposit Takers Act 2023 to consolidate the regulation of banks and non-bank deposit takers into a single, proportionate prudential regime by 2028. The regulator has published key statutory documents including the Proportionality Framework, the Depositor Compensation Scheme Transitional Standard effective July 2025, and guidelines for crisis management and competition assessment. These measures replace previous fragmented regulations to ensure financial system stability while accommodating the diverse sizes and nature of deposit-taking entities.
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