Banks ask for changes to Deposit Takers Bill

Thu, 17 Nov 2022

Two of New Zealand’s largest banks have asked parliament to refine its Deposit Takers Bill and allow more time for its implementation once passed. In a submission to the Finance and Expenditure Committee, ANZ said it supported the bill but warned there was not enough lead time to implement the changes. The bill introduces deposit insurance and other crisis management for distressed financial institutions. It is intended to protect bank customers.ANZ asked for the bill to “explicitly provide for staged implementation”...

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