Cautions and notices

Jun 2020 Insurance

The Reserve Bank has completed the thematic review of the Appointed Actuary role and regime, with the report published in June 2020

• Read the report 

Apr 2020 Banks

The Reserve Bank has published guidance on the implementation of regulatory capital calculation for the Business Finance Guarantee Scheme (BFGS) by banks operating the Standardised and Internal Ratings Based (IRB) approaches to credit risk, and implementation of the mortgage deferrals programme by banks.

• Letter to banks and NBDTs on Reserve Bank's position on approach to BFGS and mortgage deferrals (PDF 300KB)

Apr 2020 Banks

The Reserve Bank is introducing a Term Lending Facility (TLF), a new longer-term funding scheme for the banking system, in support of the Government’s Business Finance Guarantee Scheme to help promote lending to businesses.

Read the news release outlining the scheme

Mar 2020 AML-CFT

The AML/CFT Supervisors have published urgent guidance related to verifying a person’s identity during COVID-19 Level 4. Please find this guidance below.

• AMLCFT Supervisor Guidance COVID-19 (PDF 20KB)

Feb 2020 Insurance

The Reserve Bank of New Zealand is satisfied that OnePath Life (NZ) Limited is no longer carrying on insurance business in New Zealand according to the Insurance (Prudential Supervision) Act 2010 (‘the Act’). At the request of OnePath Life (NZ) Limited, the licence issued to it on 7 May 2013 under section 19 of the Act was cancelled on 31 January 2020 pursuant to section 30(1) of the Act.