The standards cover Liquidity, the Depositor Compensation Scheme, Lending, and Incorporation outside New Zealand. The Reserve Bank has also published near-final supporting guidance.
"Publishing this information now gives deposit takers more time to plan for compliance," Assistant Governor Financial Stability Angus McGregor said.
The near-final drafts reflect consultation feedback from deposit takers. We expect any further changes will be minor adjustments to improve clarity and consistency across the full suite of DTA standards to be issued in May 2027. The licensing questions published today are also unlikely to change significantly before they are finalised in May 2027.
Licensing under the DTA
The DTA licensing process opens on 1 June 2027. Banks and non-bank deposit takers currently regulated by the Reserve Bank must apply to be relicensed under the DTA. The process for regulated entities has been streamlined to focus on requirements that change under the DTA while recognising each entity's compliance with existing prudential requirements.
New entrants can also apply for a DTA licence from 1 June 2027 but will complete the full licensing process. All New Zealand deposit takers licensed under the DTA will be able to call themselves banks.
"We encourage new entrants considering their licensing options to contact us to discuss application pathways during the transition to the DTA," Mr McGregor said.
The Reserve Bank will publish near-final versions of four more DTA standards by the end of this year and issue all but the crisis preparedness standards by the end of May 2027, a key milestone for DTA implementation.
The DTA supports a stable financial system that New Zealanders can trust through the Depositor Compensation Scheme, proportionate regulation of deposit takers under a unified regime, and better crisis management.
