In late 2014, we published a consultation document on options for possible changes to the threshold for qualifying for an exemption from the credit rating requirement.
Following this consultation, we decided to change the credit rating exemption threshold from $20 million to $40 million, with a requirement for entities under $20 million to maintain a capital ratio of at least 10%, and entities between $20 million and $40 million to maintain a capital ratio of at least 12%. This decision was given effect in the Non-bank Deposit Takers (Credit Ratings Minimum Exemption Threshold) Exemption Notice 2016, which came into force on 15 February 2016.