Director Prudential Policy Jess Rowe says the guidelines are designed to support policy teams in identifying and assessing competition impacts early in the policy development process.
"Competition is already a key principle we take into account when making policy decisions. These guidelines provide a clear framework for how and when competition should be considered," Ms Rowe says.
"Thinking about competition early in the process helps us to explore or consider alternative ways of achieving regulatory objectives while also promoting better outcomes for competition."
The Competition Assessment Guidelines for Prudential Policy set out key concepts that underpin competition analysis, helping ensure our decisions support a sound and efficient financial system.
Competition Assessment Guidelines for Prudential Policy (PDF, 697KB)
The publication of the Competition Assessment Guidelines for Prudential Policy responds to recommendations from the Commerce Commission's market study into personal banking services, and aligns with the Minister of Finance's December 2024 letter of expectations, which called on RBNZ to develop a competition assessment framework for prudential policy.
"I'd like to thank our Commerce Commission peers for their insights and suggestions as we worked to develop these guidelines," says Ms Rowe.
Deposit Takers Act 2023
The Competition Assessment Guidelines for Prudential Policy will be of particular use as we work to complete a multi-year programme to introduce the Deposit Takers Act 2023 (DTA). The DTA modernises New Zealand's regulatory framework for deposit takers. It aims to help ensure the safety and soundness of deposit takers and support a stable financial system that New Zealanders can trust.
DTA standards will be issued by 31 May 2027 and come into effect on 1 December 2028.
