Consultation On A Prudential Levy OpensThe Reserve Bank of New Zealand – Te Pūtea Matua has today released a consultation document on the introduction of a prudential levy. This consultation is being undertaken on behalf of the Minister of Finance. The levy would apply to banks, non-bank deposit takers, insurers and financial market infrastructures. Section 296(1) of the RBNZ Act requires the Minister to ensure there has been consultation with representatives of those who are liable to pay a levy or be significantly affected by it, before recommending regulations. Consultation will run for ten weeks and covers:Proposing full cost recovery under the levy for all prudential costsThe sectoral scope of the levy, andThe method of calculating or ascertaining the amount of the levy paid by individual regulated entities.