The application process is open to licensed non-bank deposit takers (NBDTs) in New Zealand seeking access to ESAS to hold reserves to meet prudential liquidity requirements. NBDTs include finance companies that raise funds from the public, as well as most building societies and credit unions.
While every application will be carefully and individually assessed, the way NBDTs intend to use ESAS, and the fact that they are already licensed by RBNZ, mean the application process will be less complex than for other non-bank entities and can be expedited.
We expect to open the application process to other non-bank entities in the 3rd quarter 2025. We are confirming operational details and developing guidance to support potential applicants through that process.
