Regulatory Alerts2026-03-18
Non-bank Deposit Takers (Nelson Building Society) Exemption Revocation Notice 2020
The Reserve Bank of New Zealand issued this notice to revoke the 2018 exemption that allowed Nelson Building Society to maintain a 50% capital limit on non-cumulative preference shares. The revocation aligns the society with the standard 25% limit prescribed in the Deposit Takers Regulations 2010. The Bank determined that compliance with the stricter capital ratio is no longer unduly burdensome for the society following a review of its share terms.
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