Regulatory Alerts2021-05-04
Reserve Bank of New Zealand Capital Review Implementation Timetable Changes
The Reserve Bank of New Zealand has extended the formal start date for implementing the Banking Prudential Requirements from 1 July 2021 to 1 October 2021 to allow banks more time to adjust systems. The deadline for derecognizing existing non-compliant capital instruments is also extended to 1 January 2022, while the output floor introduction remains unchanged. Additionally, the Bank intends to recognize new Tier 2 capital instruments issued under the revised definitions before the October start date to facilitate earlier compliance.
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