Submission on review of policy for branches of overseas banks
12 Dec 2022
The Reserve Bank of New Zealand – Te Pūtea Matua is reviewing its policy in relation to branches of overseas banks. A second and final consultation of this review was announced on 24 August 2022 and Payments NZ has subsequently made a submission.
In our submission, we said we believe that further consideration should be given to the impact of this proposal, in particular, on the policy to restrict overseas bank branches from taking retail deposits or offering products or services to retail customers.
You can now download our submission below.