The Reserve Bank and Ministry of Business, Innovation and Employment have published a consultation document (PDF 756KB) on issues arising out of the application of foreign margin rules for OTC derivatives to New Zealand entities. The consultation document describes potential impediments in New Zealand legislation to compliance with these margin rules, the costs of non-compliance, and a number of targeted legislative amendments to address the potential impediments to compliance.
Jul 2017 NBDTs
Non-bank Deposit Taker licence cancelled
Nelson Enterprise Loan Trust has notified the Reserve Bank of New Zealand that it is no longer an NBDT under the Non-bank Deposit Takers Act 2013. The Reserve Bank is satisfied that Nelson Enterprise Loan Trust is no longer making NBDT regulated offers of debt securities and no longer has debt securities that remain unpaid that were offered under an NBDT regulated offer. Having satisfied itself of these matters, the Reserve Bank gives notice that the NBDT licence granted to Nelson Enterprise Loan Trust on 30 April 2015 was cancelled on 1 July 2017 pursuant to section 21(e) of the Non-bank Deposit Takers 2013.