DCS Standard guidance marked-up changes from exposure draft

Guidance Note DCS Standard 3
Contents
Part A: About this Standard 6
Overview ............................................................................................................................................................... 6
Context and purpose of the DCS Standard ................................................................................................... 6
Part B: Guidance on the DCS Standard 8
Preliminary provisions ......................................................................................................................................... 8
Commencement (Clause 2) 8
Interpretation (Clause 3) 8
Part 1 - Information about depositor compensation scheme .................................................................... 9
Product page (Clause 7) 9
Logo use (Clauses 8 and 9) 9
Deposit taker must provide DCS information sheet (Clause 10) 10
Part 2 - DCS depositor page ............................................................................................................................ 11
Account software must contain DCS depositor page or means of getting to page (Clause 11) 11 DCS depositor page must collect depositor information (Clause 12) 11 DCS depositor page must collect depositor information only from authorised individuals (Clause 13) 12 DCS depositor page must collect depositor information in respect of depositor (Clause 14) 13 DCS depositor page must confirm receipt and display certain information (Clauses 15 and 16) 14 Deposit taker must be able to activate DCS depositor page at all times (Clause 17) 14 Activating DCS depositor page and deactivating account software (Clause 18) 15 Activated DCS depositor page must remain readily accessible (Clause 19) 15 Deposit taker must deactivate DCS depositor page if directed by Bank (Clause 20) 16 Security, performance, and information storage (Clause 21) 16
Part 3 – Alternate model to DCS depositor page ........................................................................................ 16
Deposit taker may use alternate model instead of DCS depositor page (Clause 22) 16 Deposit taker ceasing to meet requirements of alternate model (Clause 23) 17 Deposit taker must notify Bank before starting to use alternate model (Clause 24 and
Schedule 1) 17
Deposit taker using alternate model must hold depositor information (Clause 25) 17 Deposit taker using alternate model must comply with other requirements (Clause 26) 18 Deposit taker must notify Bank before ceasing to use alternate model (Clause 28) 18
Part 4 – Depositor information file.................................................................................................................. 19
Deposit taker must be able to produce depositor information file (Clause 29) 19
Part 5 – Single depositor view ......................................................................................................................... 19
Deposit taker must produce and provide single depositor view if specified event notice issued (Clause 30) and deposit taker must be able to produce single depositor view (Clause 31) 19 Deposit taker not required to obtain information for single depositor view (Clause 32) 29
Part 6 – Annual testing and assurance report ............................................................................................. 29

Guidance Note DCS Standard 4
Annual testing requirements (Clause 33) 30
Assurance report (Clause 34) 31
Part 7 – Providing information to Bank for DCS .........................................Error! Bookmark not defined.
Providing information in relation to DCS to Bank (Clause 37) Error! Bookmark not defined.
Appendix 1. Variable list for the depositor information file (DIF) ............................................................. 33
Appendix 2. Single Depositor View (SDV) variable list ............................................................................... 35

Guidance Note DCS Standard 5
Use and status of the Guidance
The purpose of this Guidance is to assist licensed deposit takers (or deposit takers) to interpret and comply with the Deposit Takers (Depositor Compensation Scheme) Standard 2027 (the Standard or the DCS Standard). This recognises that the Standard is adeals with technical instrument that is not always straightforward to interpretsubject matter and there may be no case law or other external reference points to assist with its interpretation. Guidance will assist individual deposit takers with their own compliance and support a more consistent approach across the industry. The Guidance assists by:

Outlining our motivationsthe context and intentions forpurpose of the Standard. Technical
content is better understood with awareness of the policy intent at the time it was drafted.
Outlining our preferred interpretation in relation to some clauses, where we have been made
aware of differing interpretations by deposit takers.
Providing examples of how to complygood practice in complying with requirements in the
Standard.
To assist in using the Guidance:
Terms that are defined in the Standard or the Deposit Takers Act 2023 (the DTA) have the
same meaning in this guidance.
The Guidance is designed to be read alongside the Standard. Sections of this Guidance have
the same headings as the Standard. Clause numbers are those from the Standard.
The Guidance will not necessarily cover every clause in the Standard. Given its status as an
interpretation aid, where we feel a clause (when read in conjunction with the explanatory note attached to the Standard) is sufficiently self-explanatory, no additional Guidance is being provided.
In event of any conflict between the text of the Standard and this Guidance, the Standard
prevails. The Standard is secondary legislation made under the DTA, while the Guidance does not have formal status. The Guidance represents our view and is therefore an authoritative indicator of that view. However, ultimately, it is for a court to determine the correct interpretation of the Standard is determined by a Court.
The Reserve Bank will periodically review and update the Guidance. We may change our
guidance or our interpretation of the Standard if we consider this appropriate. We do not do this lightly and will endeavour to notify deposit takers in advance if we are considering amending the content of the Guidance.
This Guidance is not legal advice. We encourage deposit takers to seek their own professional
advice, as it is their responsibility to determine their obligations and ensure that they comply with the requirements of the Standard.
The Guidance relates to the version of the Standard as at [day month year].
We welcome feedback on the Guidance at any time.

Guidance Note DCS Standard 6
Part A: About this Standard
Overview

This Guidance accompanies the exposure draft of the Deposit Takers (Depositor
Compensation Scheme) Standard 2027 (the DCS Standard).DCS Standard.
The DCS Standard prescribes matters relating to the depositor compensation scheme (the
DCS) set up under Part 6 of the Deposit Takers Act 2023 (the DTA).DTA. It comes into force on 1 December 2028. Under the DCS, deposits up to the value of $100,000 per eligible depositor are protected in the event of a deposit taker failing.
The Standard applies to all licensed deposit takers except for overseas licensed deposit takers
that mainly provide services to wholesale clients.
The DCS Standard is divided into the following parts:
Part 1: Information about depositor compensation scheme
Part 2: DCS depositor page
Part 3: Alternate model to DCS depositor page
Part 4: Single depositor viewDepositor information file
Part 5: Providing information to Bank for DCSSingle depositor view
Part 6: Annual testing and assurance reports.
Context and purpose of the DCS Standard
Part 6 of the DTA, which establishes the DCS, came into effect on 1 July 2025. The remaining
parts of the DTA and other DTA standards are expected to come into force in lateon 1 December 2028. Until that time the Deposit Takers (Depositor Compensation Scheme Transitional Provisions) Standard 2025 (the Transitional Standard) applies, which also came into force on 1 July 2025.
The Transitional Standard and the DCS Standard setsets the requirements for deposit takers
to collect and providestore alternate account information from depositors. This information will be used in the event of a deposit taker failure that requires payments to compensate depositors eligible under the DCS. Without this information the Reserve Bank would not be able to compensate eligible depositors.
The DCS Standard establishes a wider range of requirements relating to the DCS. Policy
consultation on the DCS Standard ran from 16 May 2024 to 16 August 2024 and a summary of submissions and policy decisions was released on 12 June 2025. These are available at the following link Deposit Takers Core Standards - Reserve Bank of New Zealand - Citizen Space with chapter 3 of both documents relating to the DCS. These policy decisions have been incorporated into the DCS Standard.These policy decisions were incorporated into an exposure draft of the DCS Standard. The exposure draft was consulted on as part of tranche 1 of the DTA Standards exposure drafts from 30 October 2025 to 30 January 2026. A summary of and response to submissions have been released alongside the Guidance and are available at the following link DTA Standards exposure drafts (tranche 1) - Reserve Bank of New Zealand

Citizen Space.

Guidance Note DCS Standard 7
8. When the DCS Standard comes into force the Transitional Standard will be revoked.

Guidance Note DCS Standard 8
Part B: Guidance on the DCS Standard
Preliminary provisions
Commencement (Clause 2)
1.9. When it the DCS Standard comes into force on 1 December 2028 the DCS Standard it will
replace the Transitional Standard. Revocation of the Transitional Standard is provided for in clause 3 of the Transitional Standard, and so revocation is not included in the DCS Standard. Interpretation (Clause 3)
2.10. Consistent with section 20 of the Legislation Act 2019, words or expressions used in the
DCS Standard have the same meaning as the Deposit Takers Act 2023 or referring legislation.in the Deposit Takers Act 2023 (DTA). For example, the definition of ‘debt security’ can be found in section 6 of the DTA (which in turn refers to section 8(1) of the Financial Markets Conduct Act 2013). Authorised individuals
3.11. Authorised individual is defined in clause 3 as any individual who has authority, in relation
to a deposit, to do either or both of the following:

authorise money to be paid to a person who is not a holder of the deposit;
authorise money to be paid to an account with another deposit taker.
4.12. Particularly in relation to accounts held by a natural person, the authorised individual is
likely to be the depositor. In relation to body corporate accounts, such as for a business or club, it would be a person authorised to manage deposits for the entity, such as to transfer money to a third party. An authorised individual does not include anyone with view-only access (such as young children) or who can only transfer money within the accounts of a depositor at a single deposit taker. It is possible for a single deposit to have more than one authorised individual, for example the chairperson and the treasurer of a sports club, but only one alternate account can be provided – this is discussed further below.
5.13. The DCS Standard does not address situations where more than one person is required to
authorise a payment. (commonly referred to as n-to-sign). This is due to the expected complexity arising for deposit takers when designing their DCS depositor page to incorporate such a requirement. We expect that anAn individual who was authorised to complete part of thisan n-to-sign process could be an authorised individual for the purpose of the DCS Standard and therefore could provide depositor information on a DCS depositor page.

If a depositor has multiple accounts including some with different authorities, any of those
authorised individuals will be able to provide depositor information even if they do not have access to all accounts. This is a necessary consequence of DCS compensation being paid at a depositor level rather than for individual accounts.
Some people may have administrator rights to create authorised individuals for a depositor
but cannot themselves manage accounts so would not be authorised individuals.

Guidance Note DCS Standard 9
Deposit taker
6.16. The definition of deposit taker in clause 3 is narrower than the equivalent definition in the
DTA as it excludes overseas licensed deposit takers that mainly provide services to wholesale clients. The reason for this difference is these overseas licensed deposit takers do not offer DCS-protected deposits so do not need to follow this Standard. This is reflected in the application provision in clause 4.
Part 1 - Information about depositor compensation scheme
Product page (Clause 7)
17. A product page for a protected deposit must display at least 1 DCS logo in accordance with
clause 9. A deposit taker is not required to create a product page for a protected deposit solely to display a DCS logo. A product page for a captive cash PIE (as that term is defined in the Deposit Takers Regulations 2025) that is a protected deposit must also display at least 1 DCS logo.
18. A deposit taker can choose whether to use a DCS logo on a product page in relation to
revolving credit contracts but only where it is made clear that DCS protection only applies to positive balances. Logo use (Clauses 8 and 9)
7.19. The term ‘DCS logo’ is defined in clause 3 as “a logo made available by the Bank for the
purpose of helping the public to identify a protected deposit”. The use of the term DCS logo does not merely refer to the DCS weave symbol. The DCS logo options are contained in the DCS brand use guidelines that have been provided to deposit takers by the Reserve Bank . We prefer that the DCS logo that includes the words “Depositor Compensation Scheme” (identified as the Primary Logo in the brand use guidelines 1 ) is used where permissible, to aid in public understanding of the DCS. The Primary Logo is shown below, ____________ 1 The Secondary Logo which includes the weave symbol and the ‘DCS’ acronym is also preferable to using the DCS ‘weave’ symbol without any accompanying lettering (which may risk confusing a member of the public who is unfamiliar with the DCS).

Guidance Note DCS Standard 10
8. Clause 8 prohibits use of the DCS logo apart from situations that relate to a protected
deposit. An example of what we intend to prohibit is the use of the DCS logo or symbol on an email or letter that does not specifically relate to a protected deposit.
20. Unlike clause 7 which requires the use of a logo on the main product page, clause 8 allows a
deposit taker to choose whether to apply the DCS logo in other visual communications. For example, a deposit taker may choose to use the DCS logo on its main website or a banner advertisement provided it was clear why the DCS logo was there. An example that clause 8 is intended to prevent is an employee of a deposit taker including the DCS logo in their email signature where that signature did not provide any context as to why the DCS logo was there – even if that deposit taker offered, or only offered, protected deposits but that was not explained in the same signature.
9.21. Clause 9 generally sets out how the DCS logo must be used. Clause 9(2) requires that
deposit takers display the DCS logo “clearly and prominently”. Deposit takers are expected to follow Reserve Bank-issued DCS brand use guidelines. For instance, we expect deposit takers to take care as to use of sizing, dimensions, and colour.
10.22. Clause 9(3) and 9(4) is intended to make it easy for the public to access Reserve Bank
information about the DCS when the DCS logo is used in electronic form. We expect deposit takers to make it easy for customers to access information on the deposit taker website and/or the Reserve Bank website about what the DCS is.
11.23. A deposit taker may choose, under clause 8, to use the DCS logo on a visual
communication that is about a protected deposit. If the visual communication is not in electronic form (for example, a poster) then the effect of clause 9(3) removesis to remove the requirement in clause 9(4) for the DCS logo to be accompanied by a link to the Reserve Bank information page or a DCS page maintained by the deposit taker — although the deposit taker could still choose to do so (for example, by using a QR code). Deposit taker must provide DCS information sheet (Clause 10)
24. A deposit taker must make a DCS information sheet available where:

A person makes a protected deposit and does not have any other protected
deposits with the deposit taker. The deposit taker is not required to make a DCS information sheet available where a person makes subsequent protected deposits such as opening a new account, depositing into an existing account or reinvesting a term deposit. The deposit taker is also not required to make a DCS information sheet available to depositors who already held protected deposits when the DCS Standard first applied.
A person requests it. This would include people who are not currently depositors
with the deposit taker as they may be considering how DCS protection applies to that deposit taker before making a protected deposit.

Deposit takers must make the DCS information sheet easy to find and obtain. The requirement
to make a DCS information sheet available does not necessarily mean it must be provided electronically or as a hard copy (for example, as an email attachment or by post). It would also be acceptable, for example, to direct a depositor to the place where the information sheet is

Guidance Note DCS Standard 11 available on the RBNZ website. There is no requirement on how prominently the DCS information sheet is made available. The deposit taker is not required to keep records that it has made it available for an individual obligation.
Part 2 - DCS depositor page
Account software must contain DCS depositor page or means of getting to page (Clause 11)
12.26. In clauseClause 11, requires a deposit taker that provides account software to ensure that
the account software must containcontains a DCS depositor page or provideprovides a link or other means of getting to thea DCS depositor page. A deposit taker could choose for a mobile application login, once authenticated, to redirect the authorised individual to a DCS depositor
page accessed through a browser rather than directly in the application; however, the
authorised individual should not be required to reauthenticate themselves using separate electronic credentials. See also paragraph 34 of this document for credentials for authentication. DCS depositor page must collect depositor information (Clause 12)
13.27. Under clause 12, the minimum information that the DCS depositor page must collect is the
account name and account number of the alternate account – collectively referred to as account details. Although clause 12(2) only requires that accountDeposit takers must also collect contact details are collected,for the authorised individual must also be able to provideproviding the account details. To assist authorised individuals, a contact email address and phone number if they deposit taker could choose to show the contact details they already have recorded but there is no obligation to do so. The information collected through the DCS depositor page is collectively referred to as depositor information.
14.28. The account details the authorised individual puts into the DCS depositor page could be
for a person who is not the depositor. For example, it may be an account of a trusted family member or friend at the option of the authorised individual. If an authorised individual provides an account number through a DCS depositor page that is with the same deposit taker this is likely to delay any compensation payment while we request an account with another deposit taker. However, to minimise build costs on deposit takers, there are no restrictions on a DCS depositor page accepting an account with the same deposit taker.
29. Where different contact details are provided by the authorised individual than those stored by
the deposit taker in its SDV, we will use the email address first provided through the DCS depositor page as our primary contact.
15.30. The DCS depositor page is required to accept New Zealand account numbers, although
the deposit taker may choose. Where a depositor is entitled to also accept foreign accounts. If an authorised individual wishes to provide a foreigncompensation but does not have a New Zealand bank account number, irrespective of whether their deposit taker’s DCS depositor
page will allow for this, they can instead contact will likely need to deal directly with the
Reserve Bank. Providing a foreign account number may delay the depositor’s payment and incur additional fees to receive their entitled compensation.

Guidance Note DCS Standard 12
Updates to details
16.31. An authorised individual may access the DCS depositor page without having all the
information to complete the form. For example, they might not yet have their alternate account details. They canshould be able to leave the DCS depositor page and access it again at a later date. However, they will be expected to reauthenticate themselves each time they access the page.
17. If an authorised individual enters incorrect information, or wishes to update their
information, they can contact the Reserve Bank to have those details corrected. This will avoid the Reserve Bank receiving conflicting information and ensure it can be updated as quickly as possible. If updated or corrected information is provided through a DCS depositor page, the Reserve Bank will only update the details provided the associated compensation payment has not yet progressed to processing the payment.
31. If an account has more than one authorised individual, they may have different understandings
of what the correctpreferred account details and contact details are. 2 While it is our preference that any difference is resolved prior to completing the DCS depositor page, we acknowledge that this is not within the deposit taker’s control. Alternatively, a single authorised individual may attempt to submit depositor information more than once, for example to correct a previous error. If more than one submission of depositor information is provided to the deposit taker and subsequently to the Reserve Bank for the same account, the Reserve Bank will proceed with the first submission received by the Reserve Bank and update to the account details to reflect the most recent submission received, unless or until the claim has already progressed to payment processing the payment. This is the reason clause 14 requires the DCS depositor page to capture and record a timestamp for each submission.
18.32. The DCS Standard does not impose a requirement on whether a DCS depositor page
must, or must not, accept subsequent depositor information submissions. Likewise, the DCS Standard does not impose a requirement for a DCS depositor page to identify to an authorised individual that depositor information has already been submitted. If an authorised individual wants to update depositor information and cannot, or does not want to, provide this through the DCS depositor page they should contact the Reserve Bank directly. DCS depositor page must collect depositor information only from authorised individuals (Clause 13)
19.33. AnThe effect of clause 13 is that an authorised individual must, under clause 13, verify their
identity and their status as an authorised individual before providing information to a DCS depositor page. They do this by using the same electronic credentials (which could include a biometric authentication) they were able to use to access the deposit taker’s account software immediately before a specified event notice was issued to the deposit taker.
20.34. The electronic credentials used to access a DCS depositor page are intended toAn
authorised individual must be able to use the same electronic credentials used to access that they used to access the deposit taker's account software immediately before the deposit taker’s failure. It is not intended that an authorised individual attempting to access specified event notice was issued. For example, a person who normally accesses their account through a mobile application and being redirected to, and should not be required to use, a login page ____________ 2The DCS depositor page can be designed to accept more than one set of contact information, but this is not a requirement.

Guidance Note DCS Standard 13 and electroniclog in again using different credentials for their internet webpage would be compliant with this requirement. Itbanking in order to access the DCS depositor page. However, it would be acceptable to redirect anfor the authorised individual to be redirected from a mobile application to the logina web-based DCS depositor page for an internet webpage, provided they could still access the DCS depositorto that page with the electroniccontinues to be authenticated using the same credentials used to accessfor the mobile application.
35. An eligible depositor often will have more than one account with a deposit taker, and a person
may be an authorised individual for some but not all accounts. As DCS compensation is calculated at a depositor level, alternate account information is also collected at a depositor level. This means that a person who is an authorised individual for any of an eligible depositor’s accounts will be able to access the DCS depositor page and provide alternate account details for that depositor, even if they are not an authorised individual for all or most of that depositor’s accounts. By collecting information about the authorised individual who provided the information under clause 14, we will be able to identify which authorised individual provided the account details to which any DCS compensation was paid. DCS depositor page must collect depositor information in respect of depositor (Clause 14)
21.36. An authorised individual may need to provide different account details for different
depositsdepositors. For example, an authorised individual may have authority in the following contexts:

as the sole account holder:
as one of many authorised individuals for a company, trust, or club account:
in other situations that have resulted in the person having authority to manage a
deposit, such as a person having power of attorney.

Clause 14 requires that an authorised individual can provide depositor information in
relation to each depositor for which they are an authorised individual and that that information is linked to the depositor to which it relates. This will require the DCS depositor page to be able to identify which accounts the person is an authorised individual for and provide depositor information for each.
23.37. Some deposit takers may provide an authorised individual with separate electronic
credentials for each depositorsome or all depositors for which they are an authorised individual, for example via a different website, app or using a different customer ID. If this is the case, that authorised individual may be required to access a separate DCS depositor page for each depositor rather than being required providing (under clause 14) to provide account details for all depositors for which they are an authorised individual through a single electronic log in.
24.38. A DCS payment forcompensation to an eligible depositor made up ofis calculated from all
deposits in protected deposits held by the depositor and will be made only to a single alternate account so the. The DCS depositor page doestherefore should not require collectingcollect depositor information at an individual account level for a single depositor.

Guidance Note DCS Standard 14
39. When information is provided to a DCS depositor page the deposit taker must store this
information alongside the timestamp that was captured when it was submitted and information that was recorded to identify which unique authorised individual made the submission. The identity of the authorised individual can, at the option of the deposit taker, be:

The full name of the authorised individual; or
Information (such as an identification name or number) that uniquely identifies the
authorised individual and enables reconciliation of each identification to authorised individuals across all deposits.

It is not necessary for the deposit taker’s DCS depositor page to be configured to assign or
identify a unique ID to an authorised individual recorded under clause 14(2)(b). This is because the authorised individual may be providing information on behalf of a different eligible depositor and that authorised individual may not have deposits with that deposit taker so will not have a unique ID. DCS depositor page must confirm receipt and display certain information (Clauses 15 and 16)
25.41. Clauses 15 and 16 specify content that must be notified on the DCS depositor page to an
authorised individual, both before and after the authorised individual submits information to the DCS depositor page.
26.42. Before the DCS depositor page can accept information from an authorised individual, the
page must display statements to the effect that:

the deposit taker is in liquidation, is in receivership, or is under statutory
managementin resolution (whichever applies); and
the Reserve Bank has begun the process under the DCS for compensation to be
paid to, or on account of, eligible depositors in respect of their protected deposits placed with the deposit taker; and
information about the DCS is available on the Reserve Bank’s Internet site
(dcs.govt.nz).
27.43. After the authorised individual provides information on the DCS depositor page, the page
must display a statement to the effect that:
the information has been received; and
any compensation will be paid into an account according to the details provided,
after the Reserve Bank determines who is entitled to compensation and calculates the amount of their entitlement. Deposit taker must be able to activate DCS depositor page at all times (Clause 1817)
28.44. Deposit takers must be able to comply, at all times, with the requirement under clause
18be able to activate the DCS depositor page upon receipt of a specified event notice and a direction to activate its DCS depositor page from the Reserve Bank.

Guidance Note DCS Standard 15
Activating DCS depositor page and deactivating account software (Clause 1918)
29.45. Upon being directed to activate its DCS depositor page, the deposit taker must be able to:

activate its DCS depositor page;
deactivate software to manage accounts with the deposit taker and all other
entities that have been placed in liquidation, receivership or resolution, but not software that allows persons to view account balances and transactions; and.
include on the software a link or other means to get to the DCS depositor page.
30.46. This action must be taken as soon as practicable after receiving the direction. No further
guidance on a specific time has been provided, as each situation will be unique. However, clause 1718(3) requires that compliance with clause 1718(2) may be outside normal business hours, so it would not be appropriate for a deposit taker to wait until normal business hours to start completing this action.

In deactivating software to manage accounts, the Reserve Bank expects that authorised
individuals will be unable to open, manage, or close their accounts. Unlike the Transitional Standard where it was optional, a or close their accounts with the deposit taker (and its subsidiaries if applicable). If this software is also used to manage accounts with another entity, for example deposits with an overseas parent, clause 18 is not intended to require this part of the account software to be deactivated. Compliance with this clause will support compliance with generating an SDV as discussed in Part 5 below.
31.48. A deposit taker must not deactivate view access for authorised individuals — for example,
for historical transactions or balances immediately prior to the specified event notice being issued. The view-only data must match the information at the quantification time. Separately, clause 30(2) requires the single depositor view (SDV) to contain all SDV information at the quantification time. Read together, these requirements effectively require the view-only data to match the SDV generated following receipt of a specified event notice. View-only access does not need to incorporate subsequent transactions such as any resolution activity. A deposit taker may choose to include information in the account software confirming the time the viewonly data was correct for but there is no obligation to include this statement.
View-only data does not need to be provided on the DCS depositor page itself but is expected
to be available using the same verification that would have applied before the account software was deactivated. Maintaining view-only access is not intended to prevent the deposit taker removing view access from certain authorised individuals if this is required for another reason, for example, fraudulent transactions.
32.50. Under clause 18(4), the DCS depositor page must only be activated when directed by the
Reserve Bank under clause 18.
Activated DCS depositor page must remain readily accessible (Clause 19)
33.51. The deposit taker is required, under clause 19(b), to provide assistance to the public in
relation to accessing or using its DCS depositor page. This could include call-centre staff and other assistance such as the ability to complete password resets. Exact levels of assistance are expected to be discussed with the Reserve Bank.

Guidance Note DCS Standard 16
34.52. The deposit taker is not required to maintain a facility to onboard existing authorised
individuals that do not use account software. or where the person becomes or would have become an authorised individual after the account software was deactivated – for example, a person becoming an executor of an estate or a power of attorney. Those authorised individuals can provide their depositor information direct to the Reserve Bank, if required. Deposit taker must deactivate DCS depositor page if directed by Bank (Clause 20)
35.53. When directed in writing to deactivate the DCS depositor page by the Reserve Bank, the
deposit taker must, under clause 20, do so as soon as practicable but no later than 8 am on the day after receiving the direction. As with activating the DCS depositor page, the Reserve Bank expects this may be required to be done on a non-business day or outside of business hours. Security, performance, and information storage and transfer (Clause 21)
36.54. The Reserve Bank expects that theThe number of people accessing a DCS depositor page
may result in a greater capacity requirement faced by the deposit taker than during its usual course of business. To reduce the build cost for an unlikely event, the DCS Standard does not require the deposit taker to build website capacity to handle this increase in expected demand. However, the effect of clause 21(c) is that a deposit taker is expected toshould maintain the capacity they had for the maximum number of people who could reasonably be expected to access the account software simultaneously in their usual course of business prior to the failure. This requirement is found in clause 21(c) of the DCS Standard. We would not expect aA deposit taker tocannot reduce costs by reducing theirits website capacity in the lead up to a failure event unless this capacity could be restored upon the deposit taker’s receipt of a specified event notice. Deposit taker must test whether it would be able to meet requirements (Clause 22)
37. Consistent with the SDV testing requirement (see clause 33, discussed below), a deposit
taker is required to test, at least once every 12 months, that they would be able to meet the requirements of Part 2 of the DCS Standard.
Part 3 – Alternate model to DCS depositor page
Requirements for certain deposit takers (Clause 24) An optionalDeposit taker may use alternate model instead of DCS depositor page (Clause 22)
38.55. An alternate model to hold depositor information is available for a limited number of
deposit takers where a DCS depositor page may not be the most efficient way to collect alternate account details. The alternate model is expected to be used by some smaller deposit takers.
39.56. The alternate model is intended to be available in two circumstances:

Clause 24(2) – Where the deposit taker does not provide transactional accounts –
in this circumstance depositors would be expected to have transactional accounts with another deposit taker.

Guidance Note DCS Standard 17

Clause 22(1) – A deposit taker may use an alternate model where payments out of
deposits placed with the deposit taker can only be made to another account with the deposit taker or to a nominated account with another deposit taker. In these circumstances, the deposit taker is likely to already have the details of the depositor’s transactional account with another deposit taker through its normal business activities. For example, the deposit taker may have obtained this information when the depositor transferred funds to or from a non-transactional account held with the deposit taker.
Clause 24(3) – Where22(2) – A deposit takers must use an alternate model where
the deposit taker does not provide account software – this. This is intended to prevent the difficulty in developing and activating a DCS depositor page when the deposit taker does not have the infrastructure behind this such as authorised individuals with existing credentials to verify their identity and status as authorised individuals.
40.57. The alternate model has not been offered to deposit takers that offer transactional
accounts and account software. The DCS depositor page is the primary method of collecting depositor information and we consider the information collected is likely to be more accurate and up- to- date than that collected through an alternate model. The Reserve Bank expectsWe expect that the longer implementation time of the DCS Standard, compared to the Transitional Standard, has sufficiently reduced the need for an alternate model to be offered for larger deposit takers. Deposit taker ceasing to meet requirements of alternate model (Clause 23)

The use of an alternate model is not intended to create a disincentive for a deposit taker to
introduce transactional accounts or account software. Furthermore, where a deposit taker establishes account software for the first time, it can be expected that only a low proportion of depositors will initially have access set up. In those circumstances, continuing the alternate model for a period may provide more accurate and comprehensive depositor information.
A deposit taker who uses an alternate model and is considering offering account software
and/or transaction accounts, can seek the Reserve Bank’s approval to continue to use the alternate model for an agreed period after they would otherwise cease to qualify. The Reserve Bank would consider the matters specified in the Clause 23(4) and determine the time period. Deposit taker must notify Bank before starting to use alternate model (Clause 2524 and Schedule 1)
41.60. Clause 2524 requires a deposit taker to notify the Reserve Bank in writing before starting
to use an alternate model. The transitional provision in Schedule 1 allows a deposit taker to notify the Reserve Bank that it intends to use an alternate model in advance of the DCS Standard applying so that it can use an alternate model from when the DCS Standard commences. Deposit taker using alternate model must hold depositor information (Clause 2625)
42.61. Under clause 26, the25, a deposit taker using an alternate model is to take all reasonable
steps to collect and maintain depositor information from all eligible depositors at all times. This information will be included in the deposit taker’s single depositor view (SDV) file (see clause 5 of schedule 2, discussed below) and provided to the Reserve Bank if requested. As theseSome deposit takers that are eligible to use an alternate model do not offer transactional

Guidance Note DCS Standard 18 accounts, we expect that most deposit takers that can use an alternate model would. As a result, many of them are likely already be collecting a variantversion of this information for. For example, they may collect it when term deposits mature and are not rolled-over, or to comply with an alternate model under the Transitional Standard. Deposit taker using alternate model must comply with other requirements (Clause 2726)
43.62. Once collected, the deposit taker is required, under clause 2726, to maintain up-to-date
depositor information by providing authorised individuals with the ability to update this information. This includes providing this depositor information in significant correspondence with the depositor so that the depositor can respond if this information has changed.
44.63. As depositor information will often remain unchanged, it is not necessary for the
depositoran authorised individual to confirm this regularly, for example, annually. It would be sufficient for the purpose of this clause for the deposit taker to advise the depositor of their current depositor information and the depositoran authorised individual to not respond to advise that it should be changed.
64. However, as some depositors may not pay close attention to thistheir depositor information,
the deposit taker is also required to record when thisthe depositor information was last provided, updated or confirmed so that the Reserve Bank can identify when this has not occurred recently. . Recording the date on which the information was last provided, updated or confirmed also aligns with the timestamp requirements for a DCS depositor page under clause 14(1)(c). The deposit taker is not required to actively seek reconfirmation over any time period. However, if as part of a DCS payment calculation we identify that the depositor information
45.65. For deposit takers using an alternate model, there is older than a threshold we determine
at the time, we may seek additionalno requirement to collect information from theabout which authorised individual thatprovided the depositor information is still correct. . This may delay any compensation payment.is because, unlike a DCS depositor page, the alternate model does not rely on an authorised individual actively providing the information. Deposit taker must notify Bank before ceasing to use alternate model (Clause 2928)
46.66. A deposit taker must notify the Reserve Bank in writing before it ceases using an alternate
model. AOnce any transitional period under clause 23 has ended, a deposit taker that ceases using an alternate model, including because they are no longer eligible to use an alternate model, would be required tomust comply with Part 2 of the DCS Standard to have a DCS depositor page. Testing
47. Separate testing of the alternate model is not included in the DCS Standard. This is
because alternate model information must be included in the SDV and the SDV is itself required to be tested (see clause 33, discussed below). When the information in the SDV is tested to ensure it is complete and reasonably accurate, this testing is expected to identify if depositor information collected under an alternate model is also complete and reasonably accurate. The deposit taker may have limited, or no, ability to test that an alternate account number is correct. However, it should still be able to test that that

Guidance Note DCS Standard 19 alternate account number has been included in its SDV, it matches the rest of its systems, and that there is a mechanism in place to ensure the information is sufficiently up-to-date.
Part 4 – Part 4 – Depositor information file
Deposit taker must be able to produce depositor information file (Clause 29)
67. Clause 29 sets out that a deposit taker must be able to produce a depositor information file
(DIF) in the manner specified in the clause. It is a capacity and capability requirement.
68. The format in Appendix 1, together with the DCS Data Provision Requirements 3
, is made available as the depositor information file format in accordance with clause 3 of the standard. The format sets out how depositor information must be provided and specifies information that is depositor information. Under the Standard, a DIF must comply with this format.
69. After the Reserve Bank issues a specified event notice in relation to a deposit taker, it will issue
an information-gathering notice under section 99 of the DTA requiring the deposit taker to provide a DIF. The section 99 notice may specify that the DIF comply with the depositor information file format, requiring the deposit taker to provide information in the specified format and to provide information specified as depositor information.
70. From time to time, the Reserve Bank may issue an information-gathering notice under section
99 of the DTA for testing purposes and require a DIF or SDV to be provided. Separately, where a specified event is anticipated, the Reserve Bank may require these files to assess the deposit taker’s preparedness. The information-gathering notice may specify how the data must be prepared for testing, including any requirements to de-identify personal information, where applicable.
Part 5 – Single depositor view
Deposit taker must be able to produce and provide single depositor view and provide if specified event notice issued (Clauses 30 and 31)Clause 30) and deposit taker must be able to produce single depositor view (Clause 31)
71. Clauses 30 and 31 serve different purposes.
72. Clause 30 applies if the Reserve Bank issues a specified event notice to a deposit taker. It
requires a deposit taker to be able to produce and provide a single depositor view (SDV file (that meets ) to the requirements of Clause 30(2)) at all timesReserve Bank within 24 hours. Clause 31 requires the deposit taker to provide this , containing the SDV file to the Reserve Bank information known by the deposit taker at the quantification time.
48.73. Clause 31 is an ongoing requirement. It requires a deposit taker to maintain the capacity
and capability, at all times, to be able to produce within 24 hours a SDV containing all SDV information known by the deposit taker. Clause 31 is intended to ensure that a deposit taker is prepared to comply with clause 30 if a specified event notice is issued. The variables to be included in this file are in Schedule 2. and is able to provide SDV information for another purpose, such as testing at a time when a specified event is anticipated (i.e., a deposit taker appears likely to fail). ____________ 3 The Data Provision Requirements [Add link here]

Guidance Note DCS Standard 20
74. AdditionalClause 30 requires a deposit taker to generate an SDV and provide it to the Reserve
Bank within 24 hours if a specified event notice is issued. A deposit taker may generate the SDV at any time after the quantification time, provided it can demonstrate that the information is in the DCS Data Submission Requirements document that is provided with this Guidance. Where fields are mandatorySDV matches the information must be provided. For nonmandatory fieldsat the quantification time and can provide the SDV to the Reserve Bank within 24 hours.
75. The information iscontained in the SDV should exactly match the account balances and
transactions recorded in the account system at the quantification time and that are, or would be, displayed to depositors through the view-only data required to be maintained under clause 18(2)(b)(i).
76. If the deposit taker has received a specified event notice, the account balances and other
information in the SDV provided to the Reserve Bank must match the information at the quantification time which may be other than at the end of a business day. Upon receipt of a specified event notice no further transactions will have been made on deposits after the quantification time therefore an SDV that was generated after the quantification time but on the same day would be expected to provide the correct information.
49.77. From time to time, the Reserve Bank may issue an information-gathering notice under
section 99 of the DTA for testing purposes and require a SDV or DIF to be provided.
Separately, where the information is held by the deposit takera specified event is anticipated, the Reserve Bank may also require the files to assess the deposit taker’s preparedness. The information-gathering notice may specify how the data must be prepared for testing, including any requirements to de-identify personal information, where applicable. Further information on Schedule 2 and SDV electric file format
50.78. Schedule 2 specifies SDV information which splits SDV variablesinformation into fivefour
categories:

Clause 1 – Information about depositors – this information is required for each
depositor
Clause 2 – Information about deposits – this information is required for each
deposit held by each depositor
Clause 3 – Information about protected deposits – this information is required for
each protected deposit held by each depositor if the deposit is a protected deposit
Clause 4 – Information about authorised individuals other than depositors – this
information is required for each deposit but only if the deposit has an authorised individual who is not the depositor

Clause 5 – Information held under alternate model – this SDV information must be
contained in a single depositor view. A single depositor view is an electronic file which is in single depositor view format.

Guidance Note DCS Standard 21
80. The format in Appendix 2, together with the DCS Data Provision Requirements 4
, is made available as the single depositor view format in accordance with clause 3 of the standard. The format sets out how the SDV information must be provided and specifies information that is SDV information. Under the Standard, an SDV must comply with this format.
81. In relation to clause 1(b) of schedule 2 (depositor ineligibility reason, field 3 in the Appendix 2
SDV variable list), one reason for ineligibility is if a depositor is a government agency. We released an indicative list of government agencies in May 2025 which is available at:
Government agencies that are not eligible depositors for the Depositor Compensation Scheme. 5 Consistent with clause 32, deposit takers are not required for to request confirmation from a depositor whether they are a government agency. A deposit taker is expected to take a best-efforts approach to identify whether a depositor is likely to be a government agency. This could include checking whether the depositor is on the list published above, would likely to have been on that list if it had existed or had that name when the list was published, or reviewing other details obtained through Know Your Customer checks.
82. Under clause 1(c) of schedule 2, deposits in a captive cash PIE should be recorded in the SDV
as attributed to the underlying depositor rather than being a single deposit by the captive cash PIE. Even though a captive cash PIE is a relevant arrangement, recording each depositor butindividually is consistent with regulation 14(3) of the Deposit Takers Regulations 2025 and will allow us to include deposits in captive cash PIEs within the appropriate place in the protected deposit hierarchy, i.e., principal amounts in a captive cash PIE ahead of all accrued interest in Tier 4 and all other relevant arrangements in Tier 5.
83. Under clause 1(d) of schedule 2 (Tax, fields 11 to 13 in the Appendix 2 SDV variable list), the
relevant information must be provided at the depositor level, which is necessary as, where DCS compensation is for accrued interest, this will be calculated as a single amount without being identified as being for individual accounts. For most depositors the deposit taker’s records are likely to show consistent information for these fields for all accounts. Where this is not the case, field 12 in the SDV variable list, for the withholding tax rate, should show the highest rate recorded. If a depositor only if the deposit taker has an alternate modela PIR rate this can be recorded in field 11. If no withholding tax rate is provided, and the depositor is not marked as exempt in field 13 in the SDV variable list, we will withhold tax at the rate required under
Schedule 1, Part D, Table 2, of the Income Tax Act 2007. If a depositor has more than one IRD
number recorded the deposit taker can choose which one to include in field 11 in the SDV variable list.
84. Under clause 2(1)(a) of schedule 2, deposit takers are required to include the account number
(field 27 in the SDV variable list). If a deposit is a credit card, the deposit taker should not include the entire credit card number in the account number field of the SDV. Instead, it should provide a unique number, such as the last 8 digits or another number that it can identify back to a credit card of the depositor. Supplying the full number may be a breach of Payment Card Industry Data Security Standard (PCI-DSS) Standards.
85. Under clause 2(2) of schedule 2, the SDV should include all revolving credit contracts such as
revolving credit mortgages and overdrafts. Where any of these accounts have a negative balance, this amount should be included at its negative amount rather than being converted to zero. An exception to this is for accounts operated for a credit card which should only be ____________ 4 The Data Provision Requirements [Add link here] 5 https://www.rbnz.govt.nz/-/media/project/sites/rbnz/files/dcs/government-agencies-that-are-not-eligible-depositors-for-the-depositor-compensation-scheme.pdf

Guidance Note DCS Standard 22 included in the SDV if they have a positive balance at the time the SDV is generated or the quantification time.
86. For the SDV (clauses 1(a) and 4(a) of schedule 2), contact details in fields 14 to 24 in the SDV
variable list are populated from the deposit taker’s systems. If an authorised individual provides an email address through the DCS depositor page, we will use this instead of the address from the SDV. If a subsequent email address is provided, we will continue to use the first one received. We will continue to use the phone number from the SDV file in preference to any provided from a DCS depositor page. 87. Under clause 1(c) of schedule 2, ‘compensation amount’ in field 25 in the SDV variable list represents an approximation to the amount the deposit taker will be eligible for, drawing on information that it is relatively easy for a deposit taker to obtain. Except where the amount reaches the $100,000 cap, it will usually be less than a depositor may actually be entitled to. This field has two purposes. We will use it as a cross-check against the compensation the RBNZ calculates within our own system. It should also assist deposit takers in preparing DCS aggregate reporting under Part 3the Reporting Standard. No. Field identifier Field descriptor Field attributes Mandatory Clause reference (Schedule 2) Depositor level variables
88. The ‘compensation amount’ includes the principal of accounts within Tiers 1 to 3 of the
protected deposit hierarchy which also includes amounts in a captive cash PIE and each depositor’s share of any joint accounts. For an SDV produced following an event notice, the calculation should also include accrued interest on relevant accounts. However, we do not require calculation of accrued interest for testing purposes. In a testing context, the calculation can be carried out ignoring accrued interest (i.e., setting accrued interest at $0 on each account) and the field can be filled out accordingly. 6
89. While each of the amounts below are also potentially eligible for compensation, the SDV
compensation amount field does not include:

Relevant arrangements (except for a captive cash PIE) – as this will require additional
information from the provider of the relevant arrangement.
Temporary high balances (if any) – as this will require additional information from
the depositor.

For jointly held protected deposits, no regulations as referred to in DTA section 204(2)(a)(ii)
have currently been made. For recording account balances in the SDV, the full value of each joint account should be recorded against each depositor. When the compensation amount in field 25 in the SDV variable list is calculated, the balance of each joint account should be attributed to each depositor equally by dividing the account balance (from field 34 in the SDV variable list) by the number of holders (from field 28 in the Appendix 2 SDV variable list).
Under clause 1(c) of schedule 2 (Relevant arrangements in field 32), while captive cash PIEs are
a relevant arrangement within Schedule 2 of the Deposit Takers Regulations 2025, they will be ____________ 6 At this stage, we expect that deposit takers will not be required to calculate accrued interest for DCS aggregate reporting under the Reporting Standard.

Guidance Note DCS Standard 23 treated differently under regulation 14(3). Therefore, these deposits should not be flagged as a relevant arrangement in field 32 in the SDV variable list. All depositors: depositor details 1 Unique identifier This identifier is used to uniquely identify and manage the depositor’s profile such as a customer number made up of numbers or letters String, max length = 100 Y 1(a) It should not contain external IDs such as IRD number, or the entity’s business number pertaining to the depositor 2 Type of depositor Describe the type of depositor: for example, Individual, Trust, Partnership, Company, etc. Consistent with categories in deposit takers’ systems so could vary across deposit takers. Factor Y 1(a) 3 Depositor ineligibility reason Provide the reason for marking the depositor ineligible for the DCS. If the depositor is eligible, or the deposit taker does not know this information, it should be marked as eligible. Text, factor Y 1(b) Select one of the following (from section 191(1)(b) of the Deposit Takers Act 2023) that applies to the depositor:

a licensed deposit taker, a licensed insurer,
or an operator of a designated financial market infrastructure
a bank or other entity that is licensed,
registered, or otherwise authorised to accept deposits under the law of an overseas jurisdiction
a government agency
an associated person or director of the
deposit taker (unless acting as a trustee for an eligible depositor) For Individuals 4 First name(s) of the depositor Provide the legal first name(s) of the depositor String, max length = 255 N 1(a) If the deposit taker records first name and middle name(s) together in their system and is unable to separate the first and middle name(s), then report them using the First name field 5 Middle name(s) Provide the legal middle name(s) of the depositor String, max length = 255 N 1(a) 6 Surname Surname or single name of depositor. String, max length = 255 Y 1(a) If the depositor has only a single name, use this field to report the single name. Do not report the single name in the First or Middle name fields

Guidance Note DCS Standard 24
7 Date of birth Date of birth of the depositor Date, YYYYMM-DD Y 1(a) For non-individuals 8 Entity name The entity name String, max length = 255 Y 1(a) 9 New Zealand Business Number (NZBN) The NZBN is a unique identifier for businesses. Numeric, length = 13 N 1(a) 10 New Zealand Company Number Provide New Zealand Company Number if available Numeric, length = 15 N 1(a) All depositors: contact information 11 IRD number Depositor’s IRD number. IRD numbers are only 9 digits but max length at 11 to include hyphens. A depositor’s share of a joint account should have the individual’s IRD number, even if the joint holder’s IRD number or tax rate was used by the deposit taker to withhold tax on that account. String max length = 11 Y 1(e) 12 Withholding tax rate The tax rate deducted from interest earned for this depositor, including resident withholding tax (RWT) and non-resident withholding tax (NRWT). Numeric, factor, Decimal:
e.g., 0.33 where the tax rate is
33%
Y 1(e)
13 Withholding tax type
Whether tax should be withheld as resident withholding tax, non-resident withholding tax or no tax withheld. Factor, RWT/NR WT/Exe mpt Y 1(e) 14 Prescribed investor rate (PIR) PIR rate if the depositor has invested in a protected deposit held by a PIE Numeric, factor, Decimal:
e.g., 0.28 where the tax rate is
28%
N 1(e)
15
Preferred contact method
Provide the depositor’s preferred method of contact, either email or post. String N 1(a) 16 Postal/ physical address 5 separate lines for mailing address including PO Boxes and RD addresses where relevant. String, max Y 1(a)

Guidance Note DCS Standard 25 length =
50 x 5
17 Address line
2
N 1(a)
18 Address line
3
N 1(a)
19 Address line
4
N 1(a)
20 Address line
5
N 1(a)
21 Post code Post code for the postal address. If overseas, then report ZIP number in this field String, max length = 10 Y 1(a) 22 Country This is the country for the postal address in ISO 3166-1 alpha-2 code format. Default to NZ if blank/unknown String, length = 2 Y 1(a) 23 Email address Depositor’s primary email address String, max length = 255 Y 1(a) 24 Phone number 1 Depositor’s primary contact number. Provide the complete phone number with country code:
for example,+64276115878
String, max length =
20
Y 1(a)
25
Phone number 2
Depositor’s secondary contact number. Provide the complete phone number with country code:
for example, +642XXXXXXX0
String, max length =
20
N 1(a)
26 Compensatio n amount
This is the amount the depositor is entitled to under DCS for accounts that are not relevant arrangements and excluding a temporary high balance (if any). Numeric, Decimal (12,2) Y 1(d) This figure is either the aggregate balance plus aggregate accrued interest before tax or $100,000, whichever is the lesser 27 Temporary high balance Identify if a depositor has an account with a temporary high balance as anticipated by regulations issued under section 203 of the Deposit Takers Act 2023. As no regulations have currently been made this variable would initially be N for all depositors but this may change before or after the DCS Standard applies. Boolean, Y: true N: false Y 1(c)

Guidance Note DCS Standard 26
28 Vulnerability
Reason why the depositor is deemed vulnerable, indicating the depositor requires extra care, support or protection to ensure that they are not disadvantaged in any way. Reference could be made to the CoFR Consumer Vulnerability Framework 7 . This is not intended to capture any financial vulnerability of the depositor. Text, max length = 255 N 1(f) Deposit variables All depositors: deposit product information 29 Account number The unique account identification number linked to the account String, max length = 25 Y 2(a) 30 Number of account holders Report the number of account holders of an account (including any ineligible depositors). If the account has one owner/account holder, then “Account Holder Indicator” = 001. If the account has two owners/account holders, the “Account Holder Indicator = 002”. Can accept variables in whatever format held, for example with or without 00. Integer, max length = 3 Y 2(c) and (d) 31 Product type The type of product the account is. This may also include credit facilities that are designed to hold a positive balance covered under the DCS. List of products is from Regulation 5(2)(a) of the Deposit Takers Regulations 2025. Factor Y 3 32 Product name Name of product. This is the generic product name offered by the deposit taker to depositors Characte r, max length = 255 Y 2(b) 33 Protected deposit Confirm whether the product is a protected deposit using ‘Yes’ or ‘No’. A protected deposit is defined under regulation 5 of the Deposit Takers Regulations 2025 and published under
section 193 of the Deposit Takers Act 2023. This
variable does not need to consider if the depositor is eligible or if the depositor has over $100,000 of protected deposits. Boolean, Y: true N: false Y 2(j) 34 Relevant arrangement Accounts that are relevant arrangements need to be identified. Boolean, Y: true N: false Y 2(e) 35 Trust account Protected deposits by or on behalf of 1 or more trustees that qualify under section 209 of the Deposit Takers Act 2023 should be identified. Boolean, Y: true N: false Y 2(f) ____________ 7 https://www.fma.govt.nz/assets/CoFR/CoFR-Consumer-Vulnerability-Framework-April-2021.pdf

Guidance Note DCS Standard 27
36 Temporary account
Accounts that are used by the deposit taker on a temporary basis – such as suspense accounts or clearing accounts - need to be identified. This variable is only required where the temporary account is attributable to a depositor or group of depositors and not where it relates to the operations of the deposit taker itself. Boolean, Y: true N: false Y 2(g) Balances 37 Account balance The account balance is the amount of funds in the depositor’s account that is in positive balance. For joint accounts this should also be the full account balance. Numeric, Decimal (12,2) Y 2(i) 38 Accrued interest amount The gross interest accrued but not credited to the account. If there is debt and/or credit interest these should be netted per account and only positive interest provided. Numeric, Decimal (12,2) Y 2(i) Account authority (other than the account holder) 39 Authority on account Accounts that have legally authorised person(s) to act on behalf of the depositor, such as power of attorney (POA), legal guardian for a minor account etc. To be provided when another person should be contacted instead of the depositor. Boolean, Y: true N: false Y 4(b) 40 Type of authority The type of authority, such as power of attorney (POA), legal guardian for a minor account Factor Y 4(b) 41 First name(s) of the authority Provide the legal name(s) of the authority String, max length = 255 N 4(a) If the deposit taker records first name and middle name(s) together in their system and are unable to separate the first and middle name(s), then report them using the First name field 42 Middle name(s) of the authority Provide the legal middle name(s) of the authority String, max length = 255 N 4(a) 43 Surname of the authority Surname or single name of the authority String, max length = 255 Y 4(a) If the authority has only a single name, or is not an individual, use this field to report the single name. Do not report the single name in the First or Middle name fields Authority: contact information 44 Authority:
Postal/physic al address
5 separate lines for mailing address. Consistent with format of mailing address for depositor. String, max length = 50 x 5 Y 4(a) 45 Authority:
address line
2
N 4(a)

Guidance Note DCS Standard 28
46
Authority:
address line
3
N 4(a)
47
Authority:
address line
4
N 4(a)
48
Authority:
address line
5
N 4(a)
49
Authority:
Post code
Post code for the postal address. If overseas, then report ZIP number in this field String, max length = 10 Y 4(a) 50 Authority:
Country
This is the country for the postal address in ISO 3166-1 alpha-2 code format String, max length = 2 Y 4(a) 51 Authority:
email address
Authority's primary email address
String, max length =
255
Y 4(a)
52
Authority:
Phone number
Authority’s primary contact number. Provide the complete phone number with country code: for example,+64276115878 String, max length = 20 Y 4(a) Payment hold 53 Payout hold status A deposit taker must identify if there is a hold on a depositor or a block on the depositor’s account, in which case the Reserve Bank may require further information before paying compensation. Definitions are as applied by deposit takers so may vary from deposit taker to deposit taker. Text, Factor Y 2(h) Below is a list of the holds and blocks we have identified (but not limited to):

deceased depositor
bankrupt depositor
depositor (or their account) is under
legal dispute or is subject to restrictive measures imposed by national government agencies or international bodies. This will also include Anti Money Laundering (AML) related holds on the depositor
account contains, or may contain,
deposits to which the account holder is not absolutely entitled If there is no hold on the depositor or account, then confirm there is no hold. Alternate models

Guidance Note DCS Standard 29
54
Alternate account number
The alternate deposit-taker account provided by the depositor as part of an alternate model under part 3 of the DCS standard. This does not include alternate accounts provided to the deposit taker for another purpose where the deposit taker has a DCS depositor page. String, max length = 25 Y (if using an alternate model) 5(1)(a) 55 Alternate account name The name of the alternate account. String, max length = 255 Y (if using an alternate model) 5(1)(a) 56 Alternate account update date The date the alternate account number (and alternate account name if applicable) was most recently confirmed or updated. Refer to clause 27(1)(d). Date, YYYYMM-DD Y (if using an alternate model) 5(1)(b) Deposit taker not required to obtain information for single depositor view (Clause 32)
51.92. Clause 32 confirms that the deposit taker is not required to obtain information from an
authorised individual or other person to complete theinclude SDV. information in a single depositor view. This means there may be circumstances where the deposit taker does not hold information to complete certain SDV variables even whereinclude in a single depositor view and an authorised individual or other person may know this information. This clause does not prevent a deposit taker from asking for information that they may include in an SDV nor an authorised individual from volunteering this information. There will be instances where it is in the interest of the parties to provide this information. An example would be a relevant arrangement provider advising the deposit taker that the account was a relevant arrangement to ensure that, in the event of the deposit taker’s failure, the deposit was treated as a relevant arrangement, and in some cases other legislation may require them to do so 8 , nor an authorised individual from voluntarily providing this information. Subclause 32(2)Part 6 – Annual testing and assurance report
93. The overarching intent of the testing and assurance requirements is to provide clear regulatory
expectations, including expectations for board oversight. The requirements are also designed, where appropriate, to align with the assurance framework established under other DTA Standards such as the Risk Management Standard. This approach aims to promote consistency across requirements while minimising unnecessary compliance costs.
94. The annual testing and assurance cycle is intended to prevent any potential conflict with the
requirement for ensure that a deposit taker’s capacity and capability to comply with Parts 2, 3, 4 and 5 of the DCS Standard remain current and fit for purpose as its business evolves. This annual cycle begins when the Standard comes into force. ____________ 8 For example, the requirement for a payer of passive income, such as a deposit taker, to keep records, including an IRD number, under section 22AAB(2) of the Tax Administration Act 1994.

Guidance Note DCS Standard 30
Annual testing requirements (Clause 33)
95. Clause 33 requires a deposit taker usingto have a regular annual programme for assessing its
capacity and capability to comply with Parts 2, 3, 4, and 5 of the DCS standard.
96. Deposit takers are expected to verify their capacity and capability under different scenarios in a
simulated distress environment. These scenarios may include closure on any day of the week to ensure readiness at any point in time. 9
97. As part of testing for compliance with Part 4, a deposit taker must generate a DIF based either
on a suitable set of test data collected through the depositor page in non-production environments under Part 2 or on information it already holds if it uses an alternatealternative model to collectunder Part 3.
98. As part of assessing compliance with Part 5, a deposit taker must generate an SDV
incorporating all relevant information held by the deposit taker, apart from accrued interest in fields 25 and 35.
52.99. We understand that calculating accrued interest across all of a deposit takers’ deposits is
likely to be highly demanding for systems capacity. We are therefore not asking for deposit takers to carry out this information from authorised individuals under part 3 of the DCS Standard and then include calculation in full as part of testing (see also paragraphs 82 to 83 and 88 above). However, deposit takers must be confident that they are able to do carry out this information in the SDV.calculation if required and so might, for example, want to test procedures for producing a sample of accrued interest calculations or similar. 100.Deposit taker must test whether When assessing the deposit taker's capacity and capability to comply with Parts 2 and 3, a deposit taker should verify the performance and reliability of the depositor page in non-production environments under Part 2 and, where an alternative model is used, the systems and controls in place to operate that model effectively under Part 3. When assessing the completeness and reasonable accuracy of the information contained in the depositor information file and the single depositor view meets requirements (Clause 33)
53.101. The deposit taker’s testing, under clause 33, is to ensure the information in the SDV is
complete and could be transferred to the Reserve Bank. , deposit takers should review a sample of individual depositor records that is large enough and selected in a way that allows reasonable conclusions to be drawn about the accuracy and completeness of the entire population of records, such as audit sampling test. For example, testing would include should verify that identification information held by the deposit taker for a depositor was alsois included in, and matchedmatches, the information contained in the SDV. The deposit taker is not expected to test whether the information is accurategenerated files.
54. The SDV must be tested at least once every 12 months. This requirement starts from when
the Standard comes into force. Testing shortly before or immediately after the start of the Standard would be consistent with this to ensure the SDV operates as required. ____________ 9 For testing purposes, we do not expect deposit takers to generate an intra-day SDV (that is, an SDV at a specific point in time during a business day). It would be sufficient for a deposit taker to demonstrate that it can produce an SDV at the end of a business day. However, in an actual specified event, any delay in generating the SDV does not extend the requirement to provide the SDV to the Reserve Bank within 24 hours. As a result, delays in generating the SDV will reduce the time available for any other actions required before the SDV is provided to the Reserve Bank.

Guidance Note DCS Standard 31
55. Testing of the SDV must be undertaken against a range of circumstances including closure
at any time of the day and any day of the week, to ensure readiness at any point in the future.
56. There must be a process to ascertain that all appropriate products are pre-positioned,
including new products that may be introduced or offered by the deposit taker in the future. 102.The testing coversWhen assessing whether the information in the SDV exactly matches the view-only data, deposit takers are expected to use non-production environments rather than deactivate their account software. Deposit takers should take a snapshot of account balances and compare the resulting data with the information contained in the SDV. 103.As part of testing, deposit takers are expected to assess whether their capacity and capability remain appropriate in light of changes to their business, products, systems, operations or organisational structure, and to verify that they operate effectively in practice to comply with Parts 2, 3, 4, and 5 of the DCS standard. We expect deposit takers to have processes in place to review and update their capacity and capability, as their business evolves. For example, deposit takers should ensure that all relevant product changes are correctly identified and classified as protected or unprotected.
57.104. Testing should cover both the technical solution and business processes, including any
manual arrangements, if any.. Tests may include assessments of staff preparedness and the effectiveness of processes. If Assurance report (Clause 34) 105.Clause 34 requires a deposit taker has undergoneto prepare an assurance report following the completion of each annual test.
58.106. A deposit taker’s internal audit function, or completed systeman independent person, is
best practice for assurance. The internal audit function, or another independent person, is expected to use the test results to provide assurance on the extent to which the deposit taker has the capacity and/or capability to comply with Parts 2, 3, 4 and 5 of the DCS standard. This assurance activity may be incorporated into the deposit taker’s annual audit plan as a standard component of its audit programme. If there are significant changes to the deposit taker’s business, products, systems, operations or organisational changes that may impact on the effective production of SDV filesstructure, it would still need to be able to comply with clause
30. Testing under clause 33, undertaken more frequently than a 12-month cycle, would
support this.may be appropriate for the deposit taker to undertake additional assurance activities between annual assurance reviews.
59. The deposit taker must determine whether the information contained in the SDV was
complete and reasonably accurate, providing details on what was inaccurate, along with reasons for the inaccuracy.

Guidance Note DCS Standard 32
Providing information in relation to DCS to Bank (Clause 34) 107.There may be other circumstances where the Reserve Bank may request an SDV, including on a de-identified basis 10 . This could include to review testing under clause 30A deposit taker’s board is expected to play a key role in maintaining the deposit taker’s capacity and capability to gather and make available the information necessary for the Reserve Bank to quickly and accurately identify eligible depositors and protected deposits and provide entitlements to compensation. The board is responsible for overseeing the deposit taker’s arrangements to achieve this. The board is, however, not expected to be involved in the operational implementation and monitoring of those arrangements. 108.An assurance report must be provided to the board. In the report, a deposit taker is expected to be able to provide assurance to its board that appropriate testing has been conducted and that its capacity and capability to comply with Parts 2, 3, 4, and 5 of the DCS standard are effective and fit for purpose. 109.Where any errors or deficiencies are identified during testing, the assurance report should include remediation and action plans to address those issues and ensure that test outcomes inform updates to the depositor page or alternative model, the DIF and the SDV.
110. The Reserve Bank must receive the same assurance report that is provided to the board, rather
than a testing return.
60. From time to time, or where a specified event notice wasis anticipated and, the Reserve
Bank wanted to ensure an SDV file subsequently provided under clause 31 would be in a state to be processed as quickly and efficiently as possible. Such circumstances are not covered by the DCS Standard, aside from more generally through clause 34, but could be requested may also carry out testing to assess a deposit taker’s preparedness. For these purposes, the Reserve Bank may issue an information-gathering notice under section 99 of the DTA.
Appendix – Submission and require the deposit taker to provide a depositor
information file or a single depositor view. The notice may also specify requirements
111. This document does not form part of the Guidance but is provided alongside it to
support deposit takers in the submission of for preparing the data and any required supporting, including, where applicable, the de-identification of personal information. ____________ 10 This is where the data has been altered or transformed in a way that makes it impossible to identify the individuals to whom it relates. Further detail was provided on this in paragraphs 853-855 of the Deposit Takers Core Standards policy consultation document, available here. This included three principles of irreversibility, reasonable means and possibility of re-identification.

Guidance Note DCS Standard 33
Appendix 1. Variable list for files required underthe depositor information
file (DIF)
This appendix specifies variables as information that is depositor information, meaning that this is information that must be provided when a depositor information file is required to be provided. This appendix, together with the DCS Data Provision Requirements, is a depositor information file format made available according to clause 3 of the standard. It sets out the format that depositor information must be provided in and specifies depositor information. No. Field identifier Field descriptor Field attributes Clause reference 1 Unique identifier This identifier is used to uniquely identify and manage the depositor’s profile such as a customer number made up of numbers or letters. We will use this ID to link multiple files such as the SDV and DIF. It should not contain external IDs such as IRD number, or the entity’s business number pertaining to the depositor. String, max length = 100 12 2 Pay to account number Account number for a New Zealand account into which any compensation under the DCS may be paid. When entering a bank account number, use a hyphen (-) between each part:
the bank code, branch code, account number, and suffix.
String, max length =
25
12
3 Pay to account name
Account name for a New Zealand account into which any compensation under the DCS may be paid. String, max length = 255 12 4 Email address Email address of the authorised individual providing the account details. String, max length = 255 12 5 Phone number Phone number of the authorised individual providing the account details. String, max length = 20 12 6 Timestamp The date and time that were captured when the authorised individual submitted the depositor information, if the deposit taker uses a DCS depositor page, or The date that was recorded when the depositor information was most recently confirmed or updated, if a deposit taker uses an alternate model. Datetime, yyyy-mmddThh:mm:ss 14 and 27

Guidance Note DCS Standard 34
7 Username The identity of the authorised individual submitting the depositor information, if the deposit taker uses a DCS depositor page. No username is required if a deposit taker uses an alternate model. String, max length = 255 14

Guidance Note DCS Standard 35
Appendix 2. Single Depositor View (SDV) variable list
This appendix specifies variables as information that is SDV information, meaning that this information must be provided when a single depositor view is required to be provided. This
appendix, together with the DCS Data Provision Requirements and Guidelines, is a depositor
information file format made available according to clause 3 of the standard. It sets out the format that SDV information must be provided in and specifies SDV information. No. Field identifier Field descriptor Field attributes Clause refere nce (Sched ule 2) Depositor fields All depositors: depositor details 1 Unique identifier This identifier is used to uniquely identify and manage the depositor’s profile such as a customer number made up of numbers or letters. We will use this ID to link multiple files such as the SDV and DIF String, max length = 100 1(a) It should not contain external IDs such as IRD number, or the entity’s business number pertaining to the depositor. 2 Type of depositor Describe the type of depositor: for example, Individual, Trust, Partnership, Company, etc. Consistent with categories in deposit takers’ systems so could vary across deposit takers. Factor 1(a) 3 Depositor ineligibility reason Provide the reason for marking the depositor ineligible for the DCS. If the depositor is eligible, or the deposit taker does not know this information, it should be marked as eligible. Text, factor, Max length =255 1(b) Select one of the following (from section 191(1)(b) of the Deposit Takers Act 2023) that applies to the depositor:

a licensed deposit taker, a licensed insurer, or an
operator of a designated financial market infrastructure
a bank or other entity that is licensed, registered, or
otherwise authorised to accept deposits under the law of an overseas jurisdiction
a government agency (see further information on this
criterion above)
an associated person or director of the deposit taker
(unless acting as a trustee for an eligible depositor).

Guidance Note DCS Standard 36
No. Field identifier Field descriptor Field attributes Clause refere nce (Sched ule 2) For Individuals 4 First name(s) of the depositor Provide the legal first name(s) of the depositor. String, max length = 255 1(a) If the deposit taker records first name and middle name(s) together in their system and is unable to separate the first and middle name(s), then report them using the First name field. 5 Middle name(s) Provide the legal middle name(s) of the depositor. String, max length = 255 1(a) 6 Surname Surname or single name of depositor. String, max length = 255 1(a) If the depositor has only a single name, use this field to report the single name. Do not report the single name in the First or Middle name fields. 7 Date of birth Date of birth of the depositor. Date, YYYYMM-DD 1(a) For non-individuals 8 Entity name The name of the entity. String, max length = 255 1(a) 9 New Zealand Business Number (NZBN) The NZBN is a unique identifier for businesses. Numeric, length = 13 1(a) 10 New Zealand Company Number Provide New Zealand Company Number if available. Numeric, length = 15 1(a) All depositors: contact information 11 IRD number Depositor’s IRD number. IRD numbers are only 9 digits but max length at 11 to include hyphens. A depositor’s share of a joint account should have the individual’s IRD number, even if the joint holder’s IRD number or tax rate was used by the deposit taker to withhold tax on that account. String max length = 11 1(d)

Guidance Note DCS Standard 37
No. Field identifier Field descriptor Field attributes Clause refere nce (Sched ule 2) 12 Withholding tax rate The tax rate deducted from interest earned for this depositor, including resident withholding tax (RWT) and non-resident withholding tax (NRWT). If more than one rate is held provide the highest rate. If the depositor is tax exempt, provide 0.00 in this field. Numeric, factor, Decimal:
e.g., 0.33 where the tax rate is
33%
1(d)
13 Withholding tax type
Whether tax should be withheld as resident withholding tax, non-resident withholding tax or exempt. Factor, RWT/NRWT /Exempt 1(d) 14 Preferred contact method Provide the depositor’s preferred method of contact. String 1(a) 15 Postal/ physical address 5 separate lines for mailing address including PO Boxes and RD addresses where relevant. String, max length = 40 x 5 1(a) 16 Address line 2 1(a)

Guidance Note DCS Standard 38
No. Field identifier Field descriptor Field attributes Clause refere nce (Sched ule 2) 17 Address line 3 1(a) 18 Address line 4 1(a) 19 Address line 5 1(a) 20 Post code Post code for the postal address. If overseas, then report ZIP number in this field. String, max length = 10 1(a) 21 Country This is the country for the postal address in ISO 3166-1 alpha-2 code format. Default to NZ if blank/unknown. String, length = 2 1(a) 22 Email address Depositor’s primary email address. String, max length = 255 1(a) 23 Phone number 1 Depositor’s primary contact number. Provide the complete phone number with country code: for example, +64276115878. String, max length = 20 1(a) 24 Phone number 2 Depositor’s secondary contact number. Provide the complete phone number with country code: for example, +642XXXXXXX0. String, max length = 20 1(a) 25 Compensatio n amount This is the amount the depositor is entitled to under DCS for accounts that are not relevant arrangements but including amounts in a captive cash PIE and a temporary high balance (if any). Numeric, Decimal (12,2) This figure is either the aggregate balance plus aggregate 1(c) accrued interest before tax or $100,000, whichever is the lesser. For testing purposes, it is acceptable to calculate this amount exclusive of aggregate accrued interest before tax.

Guidance Note DCS Standard 39
No. Field identifier Field descriptor Field attributes Clause refere nce (Sched ule 2) 26 Vulnerability Information identifying assistance or support required for communication with the depositor. This information is collected solely to facilitate appropriate communication when required and not to record the reason for the depositor's vulnerability. Reference could, but is not required to, be made to the CoFR Consumer Vulnerability Framework. This is not intended to capture any financial vulnerability of the depositor. If this is not recorded in your system, leave the field blank. Text, max length = 255 1(e) Deposit fields All depositors: deposit product information 27 Account number The unique account identification number linked to the account. When entering a bank account number, put a hyphen (-) between each part: the bank code, branch code, account number, and suffix. If the account is a credit card, please provide a unique number but not the entire credit card number. String, max length = 25 2(1)(a) 28 Number of account holders Report the number of account holders of an account (including any ineligible depositors). If the account has one owner/account holder, then “Account Holder Indicator” =
001. If the account has two owners/account holders, the
“Account Holder Indicator = 002”. Can accept variables in whatever format held, for example with or without 00. Integer, max length = 3 2(1)(c) and (d) 29 Product type The type of product the account is. This may also include credit facilities that are designed to hold a positive balance covered under the DCS. List of products is from Regulation 5(2)(a) of the Deposit Takers Regulations 2025. Factor 3 30 Product name Name of product. This is the generic product name offered by the deposit taker to depositors Factor 2(1)(b)

Guidance Note DCS Standard 40
No. Field identifier Field descriptor Field attributes Clause refere nce (Sched ule 2) 31 Protected deposit Confirm whether the product is a protected deposit using ‘TRUE’ or ‘FALSE’. A protected deposit is defined under regulation 5 of the Deposit Takers Regulations 2025 and published under section 193 of the Deposit Takers Act 2023. This variable field does not need to consider if the depositor is eligible or if the depositor has over $100,000 of protected deposits. Boolean, TRUE: true FALSE: false 2(1)(i) 32 Relevant arrangement Accounts that are expected or known to be relevant arrangements need to be identified. Deposits in a captive cash PIE should not be identified as a relevant arrangement. Boolean, TRUE: true FALSE: false 2(1)(e) 33 Trust account Protected deposits by or on behalf of 1 or more trustees that qualify under section 209210 of the Deposit Takers Act 2023 should be identified. Boolean, TRUE: true FALSE: false 2(1)(f) Balances 34 Account balance The account balance is the amount of funds in the depositor’s account at the time the single depositor view is produced and may include a negative balance. For joint accounts this should also be the full account balance. Any accrued fees are not to be subtracted from the account balance if these were not charged before the quantification time. Numeric, Decimal (12,2) 1(f) 35 Accrued interest amount The gross interest accrued but not credited to the account. If there is debt and/or credit interest these should be netted per account and only positive interest provided. The deposit taker is not expected to keep this field updated (See the paragraphs 82-83 and 88 of this Guidance). Numeric, Decimal (12,2) 1(f) Account authority (other than the account holder) 36 Authority on account Accounts that have legally authorised person(s) to act on behalf of the depositor, such as power of attorney (POA), legal guardian for a minor account etc. This does not include authorised individuals for a non-individual – for example, an employee of a company or an office holder of a club – who would be included with the contact details in fields 14-24. Boolean, TRUE: true FALSE: false 4(b) 37 Type of authority The type of authority, such as power of attorney (POA), legal guardian for a minor account. Factor 4(b) 38 First name(s) of the authority Provide the legal name(s) of the authority. String, max length = 255 4(a) If the deposit taker records first name and middle name(s) together in their system and are unable to separate the first and middle name(s), then report them using the First name field. Only one account authority per depositor needs to be identified.

Guidance Note DCS Standard 41
No. Field identifier Field descriptor Field attributes Clause refere nce (Sched ule 2) 39 Middle name(s) of the authority Provide the legal middle name(s) of the authority. String, max length = 255 4(a) 40 Surname of the authority Surname or single name of the authority. String, max length = 255 If the authority has only a single name, or is not an 4(a) individual, use this field to report the single name. Do not report the single name in the First or Middle name fields. Authority: contact information Standard. 41 Authority:
email address Authority's primary email address.
String, max length =
255
4(a)
42
Authority:
Phone number
Authority’s primary contact number. Provide the complete phone number with country code: for example, +64276115878. String, max length = 20 4(a) Payment hold 43 Payout hold status A deposit taker must identify if there is a hold on a depositor or a block on the depositor’s account, in which case the Reserve Bank may require further information before paying compensation. Definitions are as applied by deposit takers so may vary from deposit taker to deposit taker. The deposit taker can choose how much information to provide on the hold; however, where insufficient information is provided, we will likely seek further information from the deposit taker if required. Text, Factor 2(1)(h) Below is a list of the holds and blocks we have identified (but not limited to):

deceased depositor
bankrupt depositor
depositor (or their account) is under legal dispute
or is subject to restrictive measures imposed by national government agencies or international bodies. This will also include Anti Money Laundering (AML) related holds on the depositor
account contains, or may contain, deposits to
which the account holder is not absolutely entitled If there is no hold on the depositor or account, leave the field blank.