Regulatory Alerts2022-05-17
Consultation Document: Review of the Treatment of Charitable and Religious Organisations under the Non-bank Deposit Takers Regime
The Reserve Bank of New Zealand invites submissions on proposed changes to the regulatory treatment of charitable and religious organisations under the Non-bank Deposit Takers regime. The Bank proposes exempting small entities with outstanding debt securities of $10 million or less and loans of $4 million or less from licensing and prudential requirements, while capturing larger organisations. This approach aims to reduce compliance costs for smaller charities while ensuring that larger entities meeting the NBDT definition adhere to minimum prudential standards to protect investors and maintain market confidence.
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