4Principles to be taken into account under this Act

1. In achieving the purposes of this Act, the Bank must take into account the following principles that are relevant to the performance or exercise of the functions, powers, and duties conferred or imposed on the Bank:

2. the desirability of—
   1. taking a proportionate approach to regulation and supervision; and
   2. consistency in the treatment of similar institutions; and
   3. the deposit-taking sector comprising a diversity of institutions to provide access to financial products and services to a diverse range of New Zealanders:
3. the need to maintain competition within the deposit-taking sector:
4. the need to avoid unnecessary compliance costs:
5. the desirability of maintaining awareness of, and responding to,—
   1. the practices of overseas supervisors that perform functions in relation to any licensed deposit taker or any holding company of any licensed deposit taker; and
   2. guidance or standards of international organisations:
6. the desirability of ensuring that the risks referred to in section 3(2)(d) are managed (including long-term risks to the stability of the financial system):
7. the desirability of sound governance of deposit takers:
8. the desirability of deposit takers effectively managing their capital, liquidity, and risk:
9. the desirability of depositors having access to timely, accurate, and understandable information to assist them to make decisions relating to debt securities issued by deposit takers.