Regulatory Alerts2025-05-20
Reserve Bank of New Zealand Regulatory Impact Statement: DCS Transitional Standard
The Reserve Bank of New Zealand proposes a standard requiring deposit takers to pre-position a webpage for authorized individuals to provide alternate account details in the event of failure. This measure ensures a credible payment mechanism for the Depositor Compensation Scheme by 1 July 2025, complementing a Reserve Bank-run portal to facilitate timely compensation payments. The policy balances implementation costs against the critical benefit of maintaining financial stability and depositor confidence through a dual-process approach.
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