Aotearoa’s regulatory payments frameworks are being enhanced, notably through:       The Financial Market Infrastructures Act 2021 created a comprehensive regulatory designation regime covering key payments infrastructures; The updated RBNZ Act 2021 has refreshed our role, structure and payments mandate; The Retail Payment System Act 2022 has given the Commerce Commission the mandate to regulate the retail payment system and its participants such as merchants, banks, nonbank merchant acquirers and card schemes.
Because many small business loans are supported by commercial real estate collateral, we hope that this guidance will not only help to alleviate undue pressures on commercial real estate markets, but also to improve the climate for small business lending. Our guidance is not an invitation to lend and pretend.