Regulatory Alerts2022-05-17
BS 1 - Statement of Principles on Bank Registration and Supervision
The Reserve Bank of New Zealand issues this document to establish the principles governing the registration and prudential supervision of banks under the Reserve Bank of New Zealand Act 1989. It mandates that applicants demonstrate prudent business conduct, suitable ownership structures, and adequate disclosure, while requiring systemically important banks and retail deposit takers to incorporate locally to protect depositors and ensure effective crisis management. The framework further outlines supervisory powers, conditions of registration, and responsibilities for directors and executives to maintain the soundness and efficiency of the financial system.
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