This notice is given under section 72 of the Deposit Takers Act 2023.

Notice

1. Title and Commencement

(1) The purpose of this notice is to notify the issuance of the Deposit Takers (Depositor Compensation Scheme Transitional Provisions) Standard 2025 (“Standard”).

(2) The Standard comes into force on 1 July 2025.

(3) The Standard is secondary legislation for the purposes of the Legislation Act 2019, issued under section 72 of the Deposit Takers Act 2023.

2. Description

The Standard requires existing deposit takers (with some exceptions) to have a DCS depositor page that enables the collection of alternate account information for the purposes of the Depositor Compensation Scheme. The deposit taker must not activate its DCS depositor page unless the Reserve Bank directs the deposit taker to do so.

3. Availability

The Standard is available for inspection—

1. at the head office of the Reserve Bank of New Zealand, 2 The Terrace, Wellington; and
2. on the Reserve Bank of New Zealand’s website at https://www.rbnz.govt.nz/-/media/project/sites/rbnz/files/regulation-and-supervision/dta-and-dcs/transitional-standard/dcs-transitional-standard.pdf.

Copies are also available for purchase on request to the Reserve Bank of New Zealand at 2 The Terrace, Wellington.

Dated this 21st day of May 2025.

ANGUS McGREGOR, Acting Assistant Governor Financial Stability, Reserve Bank of New Zealand.