Public consultation on exposure draft Deposit Takers Bill (New Zealand)

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Public consultation on exposure draft Deposit Takers Bill (New Zealand)

Public consultation on exposure draft Deposit Takers Bill (New Zealand)

Feb 21 2022
The ASF's New Zealand Market subcommittee has made a submission to the Reserve Bank of New Zealand in response to its public consultation on exposure draft Deposit Takers Bill (DTB), publicly released on 6 December 2021.

In the submission, the ASF New Zealand Marketsubcommittee expressed its support of the primary purpose of the DTB to promote the prosperity and well-being of New Zealanders and contribute to a sustainable and productive economy by protecting and promoting the stability of the financial system.

The submission highlighted that extending the reach of the RBNZ regulatory perimeter to non bank lending institutions to otherwise protect the financial system could have unintended consequences. It also set out how investment in non bank lending institution sponsored securitisations is of no greater risk than investment in regulated bank sponsored securitisations.

Read the submission >