Deposit guarantee scheme disclosure¶


ID	`MOD-142`
System	SD08
Repo	`bank-app`
Build status	Not started
Deployed	No

Purpose¶

Manages deposit guarantee scheme disclosure obligations for both NZ and AU jurisdictions — delivering the required disclosure at account opening, inserting a coverage statement in every periodic account statement, displaying a real-time coverage indicator in the app, and optionally notifying customers whose total deposits exceed the scheme limit. Disclosure events are logged for regulatory examination.

Scheme coverage overview¶

Jurisdiction	Scheme	Coverage limit	Governing legislation	Live date
NZ	Depositor Compensation Scheme (DCS)	NZD 100,000 per natural person per deposit taker	Deposit Takers Act 2023	July 2025
AU	Financial Claims Scheme (FCS)	AUD 250,000 per account holder per ADI	Banking Act 1959, Part II Division 2AA	Ongoing

Joint accounts under the NZ DCS are apportioned per account holder per the rules set out in MOD-125 (joint account management) — each holder's share of the joint account balance counts toward their individual NZD 100,000 limit. The FCS in Australia applies the coverage limit per account holder and calculates each holder's share of a joint account's balance independently.

What is and is not covered¶

Deposit type	DCS / FCS eligible
Transaction accounts	Yes
Savings accounts	Yes
Term deposits	Yes
Notice saver accounts	Yes
Foreign currency deposits	No
Managed funds and investment products	No
Shares and bonds	No
Amounts held in trust accounts	Subject to scheme rules — not automatically eligible

The in-app disclosure clearly states that investment products and foreign currency deposits are not covered. The account detail screen shows the coverage indicator only on eligible account types.

Disclosure obligations¶

Three distinct disclosure touchpoints are required:

Account opening. A full DCS or FCS disclosure — scheme name, coverage limit, eligibility conditions, and a statement that investment products are not covered — must be delivered via MOD-050 before the account activates. The customer must acknowledge the disclosure. The acknowledgement is recorded in app.dcs_fcs_disclosures with a timestamp, and the account activation gate in MOD-050 holds until the record is present.

Periodic statements. Every account statement generated by MOD-113 must include a deposit guarantee scheme insert. The insert states the scheme name, the coverage limit per person, and a note that the customer's total deposits at this institution count toward a single limit per person. The insert is present on every statement regardless of whether the account balance is above or below the coverage limit.

In-app coverage indicator. The account detail screen displays a real-time coverage indicator showing the customer's total eligible deposit balance across all accounts at the institution (including their apportioned share of joint accounts), the scheme limit, the protected amount, and any uncovered amount above the limit. The indicator refreshes within 5 seconds of a balance change.

Coverage calculation¶

The coverage calculation aggregates all eligible deposit balances held by the natural person at the institution in the applicable jurisdiction:

Retrieve all active eligible accounts held solely by the customer in the relevant jurisdiction.
For joint accounts, retrieve the customer's apportioned share per the joint account configuration in MOD-125.
Sum the real-time available balances from MOD-003 across all eligible accounts and shares.
Compare the total to the scheme limit for the jurisdiction.
Display: total eligible balance, scheme limit, protected amount (min of total and limit), uncovered amount (max of total minus limit, 0).

The calculation runs in the app layer on demand and does not require a backend batch process for the in-app indicator. Statement inserts use the statement-date balance captured at statement generation time.

Data model¶

-- app.dcs_fcs_disclosures
CREATE TABLE app.dcs_fcs_disclosures (
  disclosure_id       UUID PRIMARY KEY DEFAULT gen_random_uuid(),
  customer_id         UUID NOT NULL,
  account_id          UUID NOT NULL,
  jurisdiction        TEXT NOT NULL CHECK (jurisdiction IN ('NZ','AU')),
  scheme              TEXT NOT NULL CHECK (scheme IN ('DCS','FCS')),
  coverage_limit      NUMERIC(18,2) NOT NULL,
  disclosure_type     TEXT NOT NULL CHECK (disclosure_type IN ('account_opening','statement','in_app_view')),
  acknowledged        BOOL NOT NULL DEFAULT false,
  acknowledged_at     TIMESTAMPTZ,
  created_at          TIMESTAMPTZ NOT NULL DEFAULT now()
);

account_opening rows are created when a new eligible account is opened and updated when the customer acknowledges. statement rows are created by MOD-113 for each statement generation event. in_app_view rows are created each time the customer views the coverage indicator — these are sampled rather than logged for every balance-driven refresh, to avoid unbounded log volume.

Key operations¶

Account opening disclosure gate. When a new eligible deposit account is created, MOD-050 triggers the DCS/FCS disclosure flow. The disclosure content is rendered from the jurisdiction-specific template (NZ DCS or AU FCS). The account cannot activate until the customer acknowledges. The acknowledgement record is written to app.dcs_fcs_disclosures.

Statement insert generation. On each statement generation event in MOD-113, the statement insert is generated from the current scheme parameters for the account's jurisdiction. The insert is appended to the statement regardless of account balance. A statement row is created in app.dcs_fcs_disclosures for audit purposes.

In-app coverage indicator calculation. The account detail screen requests the coverage calculation from the app layer. The calculation retrieves balances from MOD-003, aggregates across eligible accounts and joint account shares, and returns the covered and uncovered amounts. The result is displayed inline on the account detail screen and refreshes on balance change events.

Threshold alert. When a customer's total eligible deposit balance first exceeds the scheme coverage limit, MOD-063 dispatches a notification advising the customer of the uncovered amount and suggesting they consider spreading deposits across institutions. This notification fires once per calendar year per customer if their balance remains above the limit — it does not fire on every transaction above the threshold.

Requirements¶

FR-629 — Account opening disclosure gate: the system must deliver a DCS (NZ) or FCS (AU) disclosure via MOD-050 at account opening — including the scheme name, coverage limit, eligibility conditions, and a statement that investment products are not covered — and must block account activation until the customer acknowledges; the acknowledgement must be recorded in app.dcs_fcs_disclosures with a timestamp.

FR-630 — Statement insert: the system must include a deposit guarantee scheme coverage statement in every periodic account statement generated by MOD-113, showing the scheme name, coverage limit per person, and a note that the customer's total deposits count toward a single limit; the insert must be present even when the balance is below the coverage limit.

FR-631 — Real-time coverage indicator: the system must display on the account detail screen the customer's total eligible deposit balance (including their apportioned share of joint accounts from MOD-125), the applicable scheme limit, the protected amount, and any uncovered amount; the indicator must refresh within 5 seconds of a balance change.

FR-632 — Threshold notification: the system must send a notification via MOD-063 when a customer's total eligible deposit balance first exceeds the scheme coverage limit in a calendar year, advising the customer of the uncovered amount and suggesting they consider spreading deposits across institutions; the notification is sent at most once per calendar year per customer.

Module dependencies¶

Depends on¶

Module	Title	Required?	Contract	Reason
MOD-050	Disclosure enforcement module	Required	—	The DCS/FCS opening disclosure is delivered and acknowledged via the disclosure management module, which enforces the account activation gate until acknowledgement is recorded.
MOD-113	Statement generation	Required	—	The DCS/FCS coverage statement insert is included in every account statement generated by MOD-113, satisfying the ongoing disclosure obligation.
MOD-003	Real-time balance engine	Required	—	The coverage indicator uses the real-time balance from the balance engine to calculate the covered and uncovered portions of the customer's total eligible deposit balance.

Required by¶

(No modules in this wiki currently declare a dependency on this module.)

Policies satisfied¶

Policy	Title	Mode	How
CON-005	Fee & Pricing Transparency Policy	`GATE`	DCS (NZ) or FCS (AU) disclosure must be delivered and acknowledged by the customer at account opening before the account activates; disclosure is repeated in account statements and on the account detail screen.
REP-007	DCS & Depositor Reporting Policy	`CALC`	The customer's total protected deposit balance across all eligible accounts is calculated and displayed in-app, enabling the customer to understand how much of their deposits falls within the protection limit.
CON-001	Customer Fairness & Conduct Policy	`AUTO`	The coverage indicator on the account detail screen updates automatically whenever the account balance changes, so the customer always sees their current coverage position without needing to check separately.
REP-004	Financial Statements Policy	`LOG`	DCS/FCS disclosure events are logged for regulatory examination — RBNZ and APRA may inspect whether disclosure obligations have been met at account opening and in statements.

Capabilities satisfied¶

(No capabilities mapped)

Part of SD08 — Customer App & Back Office Platform Compiled 2026-05-22 from source/entities/modules/MOD-142.yaml