Regulatory Alerts2024-08-20
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Crisis management under the Deposit Takers Act
The Reserve Bank of New Zealand is updating the country's crisis management framework under the Deposit Takers Act 2023 to minimize economic damage from deposit taker failures. The regime formalizes the Reserve Bank's role as resolution authority and establishes a Depositor Compensation Scheme alongside new tools like Loss Absorbing Capacity for the largest banks. The Reserve Bank plans to consult on detailed Loss Absorbing Capacity requirements and crisis preparedness standards in 2026 and 2027.
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