The Deposit Takers (Liquidity Requirements) Regulations 2010 were gazetted on 7 October 2010 and will commence on 1 December 2010. This is the date on which the governance requirements in the Reserve Bank of New Zealand Act 1989 relating to deposit takers, and the Deposit Takers (Credit Ratings, Capital Ratios, and Related Party Exposures) Regulations 2010, come into force.
The regulations require quantitative liquidity requirements to be included in trust deeds. Quantitative liquidity requirements must take into account the liquidity of both the deposit taker and any borrowing group of which it is part, and be appropriate to the deposit taker's business and the business of any borrowing group of which it is part.
The Reserve Bank has indicated that it will release guidelines on quantitative liquidity requirements to assist NBDTs and trustees to meet the liquidity requirements.