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25 Jan 2026 19:19
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      Home > News > Business

    The meaning of "bank" could be set to change

    The meaning of "bank" could be set to change


    The Reserve Bank's consulting on whether to allow all licensed deposit takers to call themselves a "bank".

    The word "bank" can currently only be used by New Zealand's 27 registered banks.

    The central bank is considering allowing others -- like 15 currently-licensed finance companies, building societies and credit unions -- to also use the word.

    Any change is likely to take effect in late 2028.

    © 2026 Newstalk ZB, NZCity

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     Today's News

    		 Motoring:
    Snell street in Waikato's Morrinsville, is closed following an earlier crash 18:57

     Skiing:
    Scotty James wins fifth-straight X-Games superpipe gold ahead of Milano Cortina Games 18:47

     Rugby:
    Japan international rugby coach Eddie Jones believes league is making big inroads into rugby's traditional domain 18:37

     Accident and Emergency:
    Hopes recovery work can resume soon at the site of the Mount Maunganui landslide 18:17

     Soccer:
    The Wellington Phoenix women have rocketed from 9th to second on the congested A-League ladder...after beating Adelaide United 3-1 at home in Porirua 18:07

     Basketball:
    Kiwi Finn Fisher-Black has ended cycling's Tour Down Under with a bang, crossing second in a sprint on the final stage to take 25th overall 18:07

     Cricket:
    Rain is disrupting the men's Super Smash T20 encounter in Christchurch...with the ladder-leading Northern Brave 51 for one in the 15th over against hosts Canterbury, scoring at just over eight and a half runs per over 17:57

     Hockey:
    The New Zealand women's hockey team have succumbed to the United States once again 17:47

     Law and Order:
    Mother shares tribute to 15-year-old Max trapped under Mount Maunganui landslide 16:47

     Law and Order:
    A Waikato man who escaped the deadly Mount Maunganui landslide, is crediting Lisa McClenna,n as the camper who saved lives 16:17

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