Active policy development
We are seeking feedback on some of the consultations listed in this section. Documents for open consultations include instructions on how to have your say, and the closing dates for responses.
You can also find consultations in this section that are closed for responses but where the Reserve Bank is still analysing the feedback that has been provided or where a Bill is being drafted or considered by Parliament.
Open consultations and policy under development
We are proposing to make changes to the assurance reports that are required to accompany registered banks’ public disclosure statements.
We are consulting on the exposure draft of the Deposit Takers Bill. The Bill will introduce a new regulatory framework and a Depositor Compensation Scheme.
Part of the Future of Money – Te Moni Anamata programme, and following on from papers exploring Stewardship of Money and Cash, and the potential for a Central Bank Digital Currency, this issues paper seeks feedback on issues facing the cash system and options to keep Aotearoa’s cash system ‘fit for purpose’.
We are reviewing our connected exposures policy for locally incorporated banks.
We are consulting on debt serviceability restrictions (DSRs) on residential mortgage lending. We are seeking feedback on the merits and potential design of two types of DSRs: restrictions on debt-to-income (DTI) ratios, and a floor on the test interest rates used by banks in their serviceability assessments.
We are reviewing our policy in respect of registered branches of overseas banks. This review is relevant both to existing registered branches operating in New Zealand and to future applicants seeking registration.
We are seeking feedback on the principles and criteria which guide our enforcement decision making process.
A key project identified by the Regulatory Stocktake was the restructure of the Banking Supervision Handbook. The Handbook redesign is a major project that is taking place in four stages, beginning in 2016 and extending to early 2019.
Part of the Future of Money – Te Moni Anamata programme, and following on from the Future of Money – Stewardship paper, this issues paper sets out the Reserve Bank’s view of the high-level policy opportunities and challenges that a CBDC may confer.
This is the first in a series of papers that seek feedback on a number of issues related to the health, efficiency and choices offered by the monetary system.
The review of the capital adequacy framework aims to identify the most appropriate capital adequacy framework for locally incorporated registered banks, taking into account experience with the current framework and international developments.
As a complement to the ongoing consultation on new bank capital adequacy framework, the Reserve Bank published a consultation paper seeking feedback on the proposed framework for identifying domestic systemically important banks (D-SIBs).
The Reserve Bank is reviewing its current approach to allowing overseas banks to use restricted words in New Zealand without being registered here as a bank (restricted words include “bank’ and its derivatives such as “banker” and “banking”). This work is intended to provide a more transparent and rigorous framework for dealing with this issue - not to materially change the scope for overseas banks to operate in New Zealand without first being registered here.
Following a public consultation by the Reserve Bank and Ministry of Business, Innovation and Employment, Cabinet agreed in 2018 to a number of legislative amendments designed to remove impediments to compliance with foreign margin requirements for uncleared OTC derivatives. These amendments are included in Part 1 of the Financial Markets (Derivatives Margin and Benchmarking) Reform Amendments Bill, which is currently before Parliament.
The Reserve Bank consulted on the possibility of debt to income (DTI) or other similar serviceability restrictions being added to the toolkit set out in the Memorandum of Understanding on Macroprudential Policy. This is being considered further as part of Phase 2 of the Review of the Reserve Bank of New Zealand Act.
In 2014, the Reserve Bank gathered information from the major banks on the techniques and processes used when producing stress test results. Using insights from this process, the Reserve Bank prepared a discussion document on best practice stress testing methodology.