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Community Scoop » New Deposit Takers Act A Step Closer


Press Release – The Treasury
A Cabinet decision to adopt the final measures resulting from the Reserve Bank Act Review will see drafting commence for new legislation to be known as the Deposit Takers Act. The measures announced by Minister of Finance Hon Grant Robertson will …
A Cabinet decision to adopt the final measures resulting from the Reserve Bank Act Review will see drafting commence for new legislation to be known as the Deposit Takers Act.
The measures announced by Minister of Finance Hon Grant Robertson will promote financial stability and protect deposits held in both bank and non-bank institutions. They conclude a comprehensive review of the Reserve Bank of New Zealand Act, and build on reforms already confirmed to update the objectives and decision-making processes of the Reserve Bank. ....

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MIL-OSI New Zealand: New Deposit Takers Act a step closer


Source: New Zealand Treasury:
A Cabinet decision to adopt the final measures resulting from the Reserve Bank Act Review will see drafting commence for new legislation to be known as the Deposit Takers Act.
The measures announced by Minister of Finance Hon Grant Robertson will promote financial stability and protect deposits held in both bank and non-bank institutions. They conclude a comprehensive review of the Reserve Bank of New Zealand Act, and build on reforms already confirmed to update the objectives and decision-making processes of the Reserve Bank.
The new Deposit Takers Act will create a single regulatory regime for all bank and non-bank deposit takers (such as building societies and finance companies). It will also introduce a new deposit insurance scheme that will protect up to $100,000 per depositor, per institution in the event of a failure. ....

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Climate news and personal actions


2022 last chance to slash emissions to avoid 2C? https://t.co/Lf3RhNlay1
If emissions keep rising we ll be on target to hit 2C in the 2030s (2034 at the earliest according to this analysis which uses a conservative 19th century baseline and looks at the latest climate models which may underestimate Arctic heating and feedbacks).https://t.co/qr9KNHhyol
From that last link,
Under the Paris Agreement adopted in 2015, virtually all the world’s nations pledged to limit global warming to “well below” 2C above pre-industrial levels and also, if possible, “pursue” efforts to cap warming at 1.5C. At present, the world is not close to being on track to meet either target. ....

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