Module Application
The BANK and NON-BANK DEPOSIT TAKERS module can assist any local or international financial institution to become a registered New Zealand bank or a licensed NBDT. For established institutions, the module recommends systems and procedures that will enable the bank or NBDT to meet all of its obligations efficiently.
Is your financial institution a registered New Zealand bank or licensed NBDT, or does it intend to obtain a licence or registration in future?
Could your bank or NBDT improve upon its governance, disclosure, record-keeping or prudential supervision practices?
Would your institution benefit from an improved understanding of the statutory management process or its liabilities in relation to fair dealings in New Zealand?
If so, then the BANK and NON-BANK DEPOSIT TAKERS module is an invaluable asset.
Module Scope
The BANK and NON-BANK DEPOSIT TAKERS module is divided into 14 topics that cover all of the licensing, registration and operational compliance requirements of banks and NBDTs operating in New Zealand.
The 14 topics are:
- Bank Registration
- NBDT Licensing
- Company Names
- Governance of Registered Banks
- Governance of Licensed NBDTs
- Credit Ratings
- Liquidity and Capital Adequacy of Registered Banks
- Liquidity and Capital Adequacy of NBDTs
- Disclosures and Audits
- Fair Dealing
- Statutory Management of Registered Banks
- NBDT Monitoring and Enforcement
- Record-keeping
- Dispute Resolution
The module covers legal requirements created by RBNZ instruments (including the RBNZ Handbook) and a range of New Zealand legislation including:
- Cheques Act 1960 (NZ)
- Companies Act 1993 (NZ)
- Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010 (NZ)
- Deposit Takers (Liquidity Requirements) Regulations 2010 (NZ)
- Evidence Act 2006 (NZ)
- Financial Markets Conduct Act 2013 (NZ)
- Financial Markets Conduct Regulations 2014 (NZ)
- Non-bank Deposit Takers Act 2013 (NZ)
- NBDT (Debt Securities and Suitability Concerns) Regulations 2014 (NZ)
- Overseas Investment Act 2005 (NZ)
- Registered Bank Disclosure Statements Order 2014 (NZ)
- Registered Bank Disclosure Statements (Overseas Banks) Order 2014 (NZ)
- Reserve Bank of New Zealand Act 1989 (NZ)
- RBNZ (Registration and Supervision of Banks) Regulations 2008 (NZ)
The BANK and NON-BANK DEPOSIT TAKERS module does not explore the rights of individual bank and NBDT customers nor the avenues of recourse for customers who have been treated unfairly or in an illegal manner by a bank or NBDT.