RBNZ Launches Deposit Protection Scheme

MT Newswires Live

Jul 01, 2025

The Reserve Bank of New Zealand (RBNZ) launched a depositor compensation scheme (DCS) Tuesday, protecting up to NZ$100,000 per depositor holding money in a DCS-protected account if deposit takers, including ANZ Group Holdings (ASX:ANZ, NZE:ANZ) and Westpac Banking (ASX:WBC, NZE:WBC), fail, the central bank's website showed.

The scheme covers funds held in DSC-covered transactions, savings, notice, and term deposit accounts, but excludes funds held in bonds and other tradable securities, managed investment schemes, and foreign currency accounts, the RBNZ added.

There will be no direct cost to depositors, as the RBNZ will collect levies from the deposit-takers.

New Zealand-listed shares of ANZ rose nearly 1% in recent Tuesday trade.

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