Regulatory Alerts2022-05-17
Added · Updated
Proposal for Regulation of Non-Bank Deposit-Takers
The Office of the Minister of Finance proposes a new regulatory framework requiring all non-bank deposit-takers to be licensed by the Reserve Bank as Registered Deposit-Takers. The framework mandates minimum capital, capital adequacy, related party lending restrictions, and credit ratings, while assigning primary supervisory responsibility to independent trustees. The Minister recommends introducing the legislation in two stages during 2007 and 2008 to implement prudential requirements and licensing obligations.