The Reserve Bank has granted further class exemptions for the following non-bank deposit takers:

  • deposit takers in receivership or liquidation;
  • specified funding conduits;
  • specified moratorium entities;
  • payment facility providers; and
  • charitable and religious organisations,

from certain sections of the Reserve Bank of New Zealand Act 1989 (subject to various terms and conditions), under the Deposit Takers (In Receivership or Liquidation) Exemption Amendment Notice 2010, the Deposit Takers (Funding Conduits) Exemption Amendment Notice, the Deposit Takers (Moratorium) Exemption Amendment Notice (No 2) 2010, the Deposit Takers (Payment Facility Providers) Exemption Amendment Notice 2010 and the Deposit Takers (Charitable and Religious Organisations) Exemption Amendment Notice 2010.

These include exemptions from the governance requirements, capital ratio requirements, related party exposures requirements, and liquidity requirements under the Act.

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