Reserve Bank of NZ looks to widen usage of word 'bank'

Feedback round brings competition issues to fore. (Image: Getty)

Wed, 01 Oct 2025

The Reserve Bank of New Zealand is proposing that all licensed deposit takers be allowed to use the word “bank” under new sector laws, thereby widening the usage of the tightly regulated noun. Such a move would go some way to address long-standing concerns among at least 10 non-bank deposit takers (NBDT) that not being able to identify as “banks” had restricted their ability to compete.The regulator’s feedback round, which will run until Nov 24, was launched on Tuesday, before the Deposit Takers Act 2023 (DTA)...

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