Regulatory Alerts2023-11-29
Deposit Takers Act 2023 Implementation Timeline
The Reserve Bank of New Zealand has published an indicative implementation timeline for the Deposit Takers Act 2023, outlining the regulatory roadmap from the bill's passage in 2023 through to the legislative backstop in 2029. The schedule details phased consultations on key frameworks, including the Proportionality framework, Depositor Compensation Scheme, and various capital and liquidity standards, leading to the issuance of all DTA standards by May 2027. Licensing application periods for existing deposit takers are set to commence in June 2026, with full commencement of DTA standards expected by December 2028, followed by the publication of the Statement of Approach to Resolution in mid-2029.
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