Reserve Bank of New Zealand

Non-bank deposit takers will be able to use restricted words by December 2028.

In general, applications will be assessed in the order they were received.

New Zealand wants to remove AT1 capital and introduce more granular standardised weights for credit risk. 

It proposes changes for open market operations, such as reducing the max tenor.

It is valid for 5 years and has been renewed three times before.

It is open to payment service providers, overseas deposit takers, and designated FMI operators.

Risks have risen, but the banks remain profitable and bad loans will decline.

Christian Hawkesby will serve as acting governor until 31 March 2025.

Global conflicts, climate risk disclosures, and AI influence will shape Asia's financial sector over the next 12 months.

According to the World Bank, around 50,000 New Zealanders remain unbanked.

However, its impact on earnings may take some time to rise as mortgages are not yet due.