(redirected from Non-Bank Deposit Takers)
NBDTNon-Bank Deposit Takers
NBDTNannette Brodie Dance Theatre (Long Beach, CA)
References in periodicals archive ?
In this article, we take a closer look at those non-banks that hold deposits for the public, called Non-Bank Deposit Takers (NBDTs).
Regulating non-bank deposit takers. Reserve Bank Bulletin, Vol 73 (4)
The Reserve Bank requires that banks, insurers and non-bank deposit takers above a certain size hold a credit rating (9) from a recognised rating agency.
The Non-bank Deposit Takers Act 2013 introduces a licensing regime for Non-bank Deposit Takers (NBDTs)--which include finance companies, building societies, and credit unions.
As a result, it is important that non-bank deposit takers are aware of their directors' interests, to ensure they meet the Reserve Bank requirements to have two independent directors on their boards," Mr Spencer said.
Reserve Bank of New Zealand (2009) "Type of credit rating for non-bank deposit takers: consultation paper", http:// www.rbnz.govt.nz/finstab/nbdt/requirements/3857981.html
The Reserve Bank is responsible for banks, life insurers and non-bank deposit takers. SecCom is responsible for issuers of securities, trustee companies, futures dealers, collective investment schemes, brokers and financial advisers.
"The Bank has been given responsibility for the prudential regulation of non-bank deposit takers, and, if legislation passes, will shortly take on responsibility for prudential oversight of insurers.
He also noted that, in the wake of considerable weakness in the non-bank sector over recent years, progress is well underway to implement the new prudential regime for non-bank deposit takers.
The SOI describes the Bank's ongoing work program to develop and implement the new regulatory framework for non-bank deposit takers and insurance companies.
The Reserve Bank today released its risk management programme guidelines (PDF 129KB) for non-bank deposit takers.
"At this point we are reasonably well positioned to adapt in light of the new thinking, with a conservative approach to bank capital adequacy, the new legislation bringing the regulation of non-bank deposit takers into our responsibilities, and long experience in managing macroeconomic stability, financial stability and prudential policy functions under one roof.