Applying to register as a bank

How banks are registered and supervised

All banks operating in New Zealand must be registered with the Reserve Bank of New Zealand and listed on a register of banks, which the Reserve Bank holds.

What's required to register

To apply for registration as a bank, you must meet the requirements under Section 70 of the Reserve Bank of New Zealand Act 1989.

Refer to the legislation

The Reserve Bank's role

A bank’s business consists mainly of borrowing and lending of money, but it will normally offer other financial services as well. The Reserve Bank oversees New Zealand's banking system, including the registration and supervision of banks.

The Reserve Bank also administers government requirements that banks may have to meet before and after they're licensed. These are intended to protect New Zealand's banking system.

The Reserve Bank maintains a public register of registered banks.

After a bank is registered

All registered banks are also required to be registered on the Financial Service Providers Register (FSPR) and must file an annual confirmation, and pay the associated fee and levies. The amount of levy you pay as a registered bank depends on your total assets.

As a registered bank, the FMA levies you pay come under Class 2 of the Financial Markets Authority (Levies) Amendment Regulations 2012.

All help topics

Getting started on the register 4 guides

A new financial advice regime came into effect on 15 March 2021 which also brought about changes to the Financial Service Providers Register.

Registering a financial service provider (FSP) 9 guides

Dispute resolution schemes (DRSs) 2 guides

If you provide financial services to retail clients, you must join a DRS within 10 working days of registering and keep your membership details up to date on the Financial Service Providers Register (FSPR).

Applying to provide licensed services 4 guides

Filing an annual confirmation 3 guides

To remain registered as a financial service provider (FSP) you must confirm your FSP's details and services each year. Find out how to file your confirmation online, or to change the month you do it

Managing your registration as a financial service provider (FSP) 6 guides

Deregistration and reregistration 3 guides

You can voluntarily deregister a financial service provider (FSP), or it may be deregistered by the Registrar. In some circumstances you can object to a deregistration, or apply to have the FSP reregistered.

Paying fees and levies 3 guides

If you're a financial service provider (FSP), you pay fees for some transactions, including registration. You also pay levies to the Financial Markets Authority (FMA). There are several ways to pay.

Managing your online services account 6 guides

Your FSPR online services account allows you to keep your FSP's contact and payment details up to date. From your account dashboard you can view and manage outstanding applications and tasks.