Liquidity guidelines for non-bank deposit takers
Friday 29 October 2010, 2:33PM
By Reserve Bank of New Zealand
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The Reserve Bank has published non-binding quantitative liquidity guidelines for the non-bank deposit taking sector. The guidelines complement the Deposit Takers (Liquidity Requirements) Regulations 2010 gazetted earlier this month. Under the regulations, appropriate quantitative liquidity requirements must be included in an NBDT’s trust deed by 1 December 2010.
Deputy Governor Grant Spencer said the Guidelines are intended to help the sector develop quantitative liquidity requirements that are appropriate for an NBDT, and therefore meet their obligations under the regulations.
“They outline the matters that an NBDT and trustee should consider in setting quantitative liquidity requirements,” Mr Spencer said.
The guidelines and information on prudential liquidity requirements can be accessed on the Bank’s website http://www.rbnz.govt.nz/