Wellington, RBNZ, 27 June 2016 - The Reserve Bank today published a consultation paper on its approach to the registration of foreign-owned banks that have a small, non-systemic, locally incorporated presence in New Zealand.

The consultation proposes a way to assess whether these banks may be permitted to ‘dual-register’, simultaneously operating a local branch alongside a subsidiary.

Consultation closes on 24 August 2016. The Bank will review submissions received and expects to communicate further about the issue in late 2016.

More information: Consultation Paper: Dual Registration Policy for Small Foreign Banks