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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Deposit Takers Act
An indicative implementation timeline for the Deposit Takers Act 2023 (DTA).
Published:
Last updated:
2023
July
Deposit Takers Bill passed
August to September
Consultation on Proportionality framework and DCS levy framework (RBNZ), and Statement of Funding Approach (Treasury)
2024
March to May
Consultation on DTA regulations (tranche 1 - Depositor Compensation Scheme (DCS))
March
Proportionality framework (PDF, 323KB) published
May to August
Consultation on core standards
August to November
Consultation on non-core standards
Consultation on Issues Paper - Crisis Management
2025
January
DTA regulations (tranche 1) published
May
Summary of submissions and policy decisions on the Liquidity, Depositor Compensation Scheme (DCS) and Disclosure standards
DCS Transitional Standard (PDF, 426KB) published
DCS Product Hierarchy (PDF, 212KB) published
July
DCS commences on 1 July
August
Summary of submissions and policy decisions on the Capital Standard published
Consultation on the key capital settings
October to November 2025
Consultation on DTA regulations required for licensing
Consultation on the use of restricted words under the DTA
October 2025 to January 2026
Consultation on DTA standards exposure drafts and guidance tranche 1 (Liquidity, DCS, Lending, and Incorporation outside New Zealand standards)
Consultation on Group Supervision Policy
November 2025
Licensing approach communicated to existing deposit takers. For more information, read the opening remarks and presentation from our November 2025 industry webinar
2026
February to May
Consultation on DTA standards exposure drafts and guidance tranche 2 (Governance; Risk Management; Disclosure Statements; Business Transfers, Holding Entity, and Restricted Activities; and Reporting standards)
June to September
Consultation on DTA standards exposure drafts and guidance tranche 3 (Capital, Disclosure Statements (remainder), Operational Resilience, Outsourcing, and Related Party Exposure standards)
Consultation on a Crisis Preparedness package which will include a Crisis Management Framework overview and a range of standards covering:
Recovery Planning and Resolvability Pre-positioning
Loss Absorbing Capacity (LAC) requirements
Continuity of Access to Deposits (CoAD), formerly Open Bank Resolution (OBR)
2027
January to March
DTA regulations required for licensing made
Planned consultation on final set of DTA Regulations to commence in 2028 (largely relating to operationalising the No creditor or shareholder worse off regime, Part 7, Subpart 9 and final DCS regulations)
February
Consult on Loss Absorbing Capacity (LAC) requirements exposure draft
May
All DTA standards issued by 31 May (includes Loss Absorbing Capacity (LAC) requirements but not Crisis Preparedness Standard or Continuity of Access to Deposits (CoAD) Standard)
Consultation on exposure draft of Crisis Preparedness Standard and Continuity of Access to Deposits (CoAD) Standard
June
Licensing application period commences 1 June. Applications from existing deposit takers can be submitted from this date until the applicable due date.
September
Licence applications from existing standalone branches due by Friday 3 September
October
Licence applications from existing Group 3 deposit takers due by Friday 29 October
2028
June
Remaining DTA regulations
Licence applications from existing Group 1 deposit takers and their branch counterparts due by Friday 2 June
July
Licence applications from existing Group 2 deposit takers and their branch counterparts due by Friday 28 July
December
All DTA standards commence 1 December 2028 (except Crisis Preparedness Standard and Continuity of Access to Deposits (CoAD) Standard)
Late 2028
Crisis Preparedness Standard and Continuity of Access to Deposits (CoAD) Standard issued
2029
July
Legislative backstop
Mid 2029
Statement of Approach to Resolution published (before the first anniversary of the commencement of subpart 2 of Part 7 of the DTA)