Dual registration policy for small foreign banks
Timing: Changes in force from 21 December 2016
21 December 2016
The Reserve Bank has published a policy for the dual registration of small foreign-owned banks. This follows an earlier consultation with stakeholders. A summary and response to the submissions received on the consultation has also been published.
27 June 2016
In June 2016 the Bank published a consultation paper on its approach to registration of foreign-owned banks that have a small, non-systemic, locally incorporated presence in New Zealand. The consultation closed on 24 August 2016. The consultation proposed a framework for assessing whether these banks may be permitted to ‘dual-register’, simultaneously operating a local branch alongside an existing subsidiary.