Regulation of Non-bank Deposit Takers (NBDTs)
Under Part 5D of the Reserve Bank of New Zealand Act 1989 (the "Act"), the RBNZ is charged with the enforcement of the credit rating and prudential requirements applying to non-bank deposit takers (NBDTs) in New Zealand. These functions were introduced by the enactment of the Reserve Bank of New Zealand Amendment Act 2008. Further amendments to Act have been foreshadowed to complete the regulatory framework for the NBDT sector.
Read more about this topic: Reserve Bank Of New Zealand
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