Regulatory Alerts2022-05-17
Feedback on consultation on OBR pre-positioning
The Reserve Bank of New Zealand issued this document to summarize industry feedback on its Open Bank Resolution pre-positioning requirements and outline the regulator's responses. The Bank confirmed the policy applies to all locally incorporated banks with over $1 billion in retail funding, delayed the implementation deadline to June 2013, and clarified that the scheme aligns with global standards to preserve financial stability without altering creditor rights. Key adjustments include extending timelines to accommodate ongoing IT projects, defining in-scope products for pre-positioning, and addressing director liability concerns during the resolution process.
Share