News and publications

This page details news and publications released in relation to the non-bank deposit taker (NBDT) regime.

Date

News

18 Dec 2015 The Bank published a Summary of feedback from NBDT industry bodies and Reserve Bank responses (PDF 59KB) on the NBDT Industry Update – Regulatory Stocktake.

10 Nov 2014

The November 2014 newsletter (PDF 69KB) sets out the general conditions of licence for NBDTs and provides further guidance about the suitability regime for directors and senior officers of NBDTs.

5 Nov 2014

The Reserve Bank has granted the first NBDT licence today. Further details can be found on the NBDT register, which will be updated as further licences are granted.

15 Sept 2014

The Bank has recently released a consultation document on its review of the credit rating exemption threshold for NBDTs.

28 Jul 2014

The Bank has released a newsletter (PDF 949KB) providing a brief update on the licensing process and common issues associated with applications received to date.

19 Jun 2014

Cabinet has recently agreed to declare a number of entities out of the NBDT regime. The Cabinet paper (PDF 105KB) and Regulatory Impact Statement (RIS) (PDF 96KB) are now available.

26 Mar 2014

The Bank has released application materials for Non-bank Deposit Taker licence applicants. This includes guidance, application forms and templates. See the NBDT licensing page.

2 Oct 2013

The Reserve Bank recently completed a review of the prudential regime for Non-bank Deposit Takers. The report on this review has been presented to the House of Representatives by the Minister of Finance.

19 Jul 2013

The Reserve Bank released a consultation document seeking stakeholder feedback on a proposal to declare small charitable and religious Organisations out of the definition of Non-bank Deposit Taker Submissions close 20 August 2013.

4 Apr 2013

The Reserve Bank today released a consultation paper (PDF 384KB) on its review of the prudential regime for Non-Bank Deposit Takers (NBDTs).

10 Jul 2012

The Reserve Bank has released a Cabinet paper (PDF 210 KB) and RIS (PDF 88KB) following Cabinet approval of policy proposals for regulations to be made under the second NBDT Bill.

3 Apr 2012

The Reserve Bank released a consultation document (PDF 90KB) on regulations under the Non-bank Deposit Takers Bill 2011.

13 Oct 2011

The Deposit Takers (Persons Declared Not to be Deposit Takers) Regulations 2011 were gazetted on 13 October 2011. These regulations come into effect on 10 November 2011, and reflect a policy position on certain building societies and credit unions.

13 Sep 2011

A new Council of Financial Regulators has been established to foster cooperation between financial and prudential regulators in New Zealand.

25 Jul 2011

The Minister of Finance issued a press release (PDF 350KB) announcing the August introduction to the House of the Non-bank Deposit Takers Bill.

5 Jul 2011

The Reserve Bank has released a Cabinet Paper and RIS (PDF 179KB), following Cabinet approval of policy proposals for a second NBDT Bill.

12 May 2011

The Reserve Bank released documents relating to an Information release: South Canterbury Finance following a request under the Official Information Act 1982.

21 Apr 2011

The Reserve Bank and the Ministry of Economic Development released a discussion document on prudential disclosure requirements for non-bank deposit takers.

25 Nov 2010

The Bank announced today that it is exempting certain deposit takers from some or all of the NBDT requirements under Part 5D of the Reserve Bank of New Zealand Act 1989. These exemptions are provided for in various new exemption notices, which all come into effect on 1 December 2010. A full copy of these notices can be found on the New Zealand Legislation website.

1 Nov 2010

The Reserve Bank released documents relating to its engagement with South Canterbury Finance, following a request under the Official Information Act 1982.

29 Oct 2010

The Reserve Bank released liquidity guidelines for non-bank deposit takers.

8 Oct 2010

The Reserve Bank announced developments in the non-bank deposit taking sector. Policy proposals on remaining regulatory requirements for the NBDT sector (PDF 148KB) were released for consultation. The Deposit Takers (Liquidity Requirements) Regulations 2010 were also gazetted.

20 Sep 2010

The Reserve Bank outlined liquidity requirements for the NBDT sector and released a Response to submissions (PDF 31KB) received on the NBDT Consultation Document: Liquidity Policy (PDF 187KB).

23 Aug 2010

The Reserve Bank published guidance for identifying a deposit taker.

25 Jun 2010

The Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010 were gazetted on 24 June 2010 and will come into force on 1 December 2010.

1 Mar 2010

NBDTs are required to have a credit rating from an approved rating agency by 1 March 2010.

2 Feb 2010

Reserve Bank issues consultation paper. A consultation paper (PDF 129KB) on policy options for liquidity requirements for the NBDT sector.

23 Dec 2009

Following public consultation, the Deposit Takers (Credit Ratings) Regulations 2009 were gazetted on 23 December 2009.  These regulations require a credit rating from 1 March 2010, for the purposes of section 157I, to be a local currency (New Zealand dollar), long-term, issuer rating.

3 Nov 2009

The Reserve Bank released a technical policy paper (PDF 140KB) to explain the logic underlying the proposed risk weighting structure of the regime.

13 Jul 2009

The Reserve Bank released its risk management programme guidelines (PDF 129KB) for NBDTs.

19 Mar 2009

The Reserve Bank approved Fitch Ratings, Moody's Investor Service and Standard & Poor's Rating Services, for the purposes of Part 5D of the Reserve Bank of New Zealand Act 1989 (the Act).

17 Feb 2009

The Reserve Bank released a consultation paper on credit ratings.

19 Dec 2008

The Reserve Bank has released a consultation paper seeking comment on the related party requirements and the minimum capital ratio framework for NBDTs.

15 Dec 2008

The Reserve Bank released its guidelines for credit rating agencies applying to be approved under part 5D of the Act.

3 Sep 2008

The Reserve Bank welcomes new responsibilities.

3 Sep 2008

The Minister of Finance announced the passing of the Reserve Bank Amendment Act.

25 Aug 2008

The Reserve Bank of New Zealand Amendment Bill (No. 3) was introduced to Parliament.

12 Sep 2007

Reserve Bank welcomes new deposit taker requirements

12 Sep 2007

Reserve Bank to register all deposit takers.

19 Jun 2007

Reserve Bank welcomes decision on prudential regulation

31 Aug 2006

Commerce Minister Hon Lianne Dalziel released discussion papers as part of the government's review of financial products and providers.

21 Dec 2005

The Review of Financial Products and Providers being undertaken by the Ministry of Economic Development has signalled, in principle, greater prudential regulation of NBDT institutions, of some insurers and of some superannuation schemes.

6 Sep 2005

An officials' report to the Minister of Commerce on the Review of Financial Products and Providers has been released publicly.

Publications

Regulating non-bank deposit takers (PDF 695KB) Reserve Bank of New Zealand Bulletin, Volume 73, No. 4, December 2010

New legislation for regulation of non-bank deposit takers (PDF 63KB), Reserve Bank of New Zealand Bulletin, Volume 71, No. 4, December 2008

A users' guide to credit rating (PDF 76KB), Reserve Bank of New Zealand Bulletin, Volume 71, No. 3, September 2008