The Reserve Bank of New Zealand (RBNZ) outlined its progress on recommendations referenced in the Government’s response to the FEC, focusing on areas where the RBNZ is the decision maker and summarising key elements of its current financial stability and payments work programme. Ongoing initiatives highlighted include a review of key capital settings, consultation on the use of the term “bank”, and leading the development of a payments modernisation strategy as part of the RBNZ’s Future of Money and Payments work. The RBNZ also pointed to recently completed steps, including establishing a Financial Policy Committee for key financial stability decisions, setting a lower minimum capital requirement for deposit takers of NZD 5m (down from NZD 30m) to apply when the Deposit Takers Act comes into force, expanding access to its settlement systems, and publishing guidance on managing climate-related risks. The RBNZ noted the FEC’s request for regular progress updates and indicated it will contribute to that process, alongside continued work with other regulators and Treasury.
Reserve Bank of New Zealand 2025-11-13
Reserve Bank of New Zealand highlights progress on FEC recommendations including capital settings review, payments modernisation and a NZD 5m minimum deposit taker capital threshold
The Reserve Bank of New Zealand (RBNZ) reported progress on financial stability and payments initiatives, including a review of capital settings, consultation on the term "bank," and a payments modernisation strategy. Key developments include establishing a Financial Policy Committee, setting a lower minimum capital requirement for deposit takers, expanding settlement system access, and publishing climate risk management guidance.