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