Source: Reserve Bank of New Zealand – Te Pūtea Matua
11 August 2026
The Reserve Bank of New Zealand – Te Pūtea Matua has today released a
consultation document on the introduction of a prudential levy. This
consultation is being undertaken on behalf of the Minister of Finance.
This initiative was announced as part of the Government’s Budget 2026.
The announcement is a decision in principle to the levy’s introduction.
The levy would apply to banks, non-bank deposit takers, insurers and
financial market infrastructures.
Section 296(1) of the RBNZ Act requires the Minister to ensure there has
been consultation with representatives of those who are liable to pay a
levy or be significantly affected by it, before recommending
regulations.
Consultation will run for ten weeks and covers:
- Proposing full cost recovery under the levy for all prudential costs
- The sectoral scope of the levy, and
- The method of calculating or ascertaining the amount of the levy paid by individual regulated entities.
Submissions are due by 5pm on 16 October. Final Cabinet decisions are
then expected in early 2027. We look forward to engaging with the
industry on these proposals.
MORE INFORMATION
Prudential levy consultation information: Prudential levy consultation information
Financial industry to bear the cost for regulation: Financial industry to bear the cost for regulation