Applying to be a non-bank deposit taker (NBDT)

How NBDTs are licensed and regulated

All non-bank deposit takers (NBDTs) must be licensed by the Reserve Bank of New Zealand and listed on a register, which the Reserve Bank holds.

What defines an NBDT

NBDTs are defined in Section 5 of the Non-bank Deposit Takers Act 2013 . They can offer debt securities to customers in New Zealand, and provide financial services, including borrowing and lending money. NBDTs don't include registered banks, local authorities or the Crown.

Applying for a licence

Anyone intending to offer services as an NBDT must apply to the Reserve Bank for a licence and satisfy conditions under the Non-bank Deposit Takers Act 2013 .

The Reserve Bank's role

The Reserve Bank regulates and supervises all licensed NBDTs in New Zealand and is responsible for administering the Non-bank Deposit Takers Act 2013.

The Reserve Bank also maintains a register of non-bank deposit takers.

Links to the Reserve Bank website

After you're licensed as an NBDT

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

As a licensed NBDT, the FMA levies you pay come under Class 2 or Class 2A of the Financial Markets Authority (Levies) Amendment Regulations 2012.

  • Class 2A applies if the NBDT is also licensed for the market service of acting as a financial institution
  • Class 2 applies if the NBDT is not licensed for the market service of acting as a financial institution.

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