Regulatory Alerts2022-09-21
Statement of Prudential Policy 2022
The Reserve Bank of New Zealand issues its 2022 Statement of Prudential Policy to establish the regulatory framework and supervisory expectations for registered banks, licensed insurers, non-bank deposit takers, and financial market infrastructures. The document mandates a risk-based, proactive oversight model that prioritizes financial system stability, enforces adherence to prudential standards, and outlines escalation and enforcement mechanisms for entities facing financial distress or non-compliance. It also details imminent legislative updates, including the Deposit Takers Act, revised insurance solvency rules, and new FMI regulations, while embedding emerging risks such as climate change and cyber resilience into the Bank’s strategic priorities.