4424

NEW ZEALAND GAZETTE

No. 135

(h) Peak Credit Exposure concentrations—
the number of individual Counterparties or Groups of Closely Related Counterparties (excluding any OECD Government) to which the Banking Group has an aggregate Credit Exposure (net of Specific Provisions) which equals or exceeds 10% of the Overseas Banking Group’s Equity, separately disclosing the number of:

(i) Counterparties other than Banks and Groups of Closely Related Counterparties of which a Bank is not the parent;

(ii) Bank Counterparties and Groups of Closely Related Counterparties of which a Bank is the parent;

in successive ranges of 10% of the Overseas Banking Group’s Equity in respect of peak end-of-day Credit Exposures (net of Specific Provisions) since the commencement of the Accounting Period;

(i) Ranking of local creditors in a winding-up—
whether there are any Material legislative or regulatory restrictions which subordinate the claims of any class of unsecured creditors of the Registered Bank on the assets of the Overseas Bank to those of any other class of unsecured creditors of the Overseas Bank, in a winding up of that Overseas Bank. If so, the Key Information Summary shall also state:

(i) the legislation or regulations involved and a summary of the nature of the impairment of the rights of creditors of the Registered Bank which they create; and

(ii) the nature and amount of each Class of the Registered Bank’s liabilities which are so affected;

(j) Financial statements of the Overseas Bank and Overseas Banking Group—
a statement that copies of that part of the Registered Bank’s most recent Supplemental Disclosure Statement, which contains a copy of the most recent publicly available financial statements of the Overseas Bank and Overseas Banking Group, will be provided at no charge, immediately to any person requesting a copy where the request is made at the Registered Bank’s head office and within five Working Days where the request is made at any branch or agency of the Registered Bank; and

(k) Reference to Disclosure Statements—
a statement that copies of the Registered Bank’s most recent General Short Form Disclosure Statement and Supplemental Disclosure Statement will be provided at no charge, immediately to any person requesting a copy where the request is made at a Registered Bank’s head office and within five Working Days where the request is made at any branch or agency of the Registered Bank.

Part III

General Disclosures to be Contained in General Short Form Disclosure Statement

6. General Matters—(1) In respect of the Registered Bank, the General Short Form Disclosure Statement shall state its name and Address for Service.

(2) In respect of the Overseas Bank, the General Short Form Disclosure Statement shall state:

(a) its name and the address of its principal office, or place of business, outside New Zealand;

(b) the statute or other authority under or pursuant to which it was incorporated or established; and

(c) the date of its incorporation or establishment.

(3) Where applicable, the General Short Form Disclosure Statement shall state:

(a) the name and Address for Service of the Ultimate Parent Bank of the Overseas Bank;

(b) the name and Address for Service of the Ultimate Holding Company of the Overseas Bank; and

(c) a summary of any regulations, legislation or other restrictions of a legally enforceable nature which may Materially inhibit the legal ability of the bodies corporate referred to in paragraphs (a) and (b) of this subclause, to provide Material financial support to the Registered Bank.

(4) The General Short Form Disclosure Statement shall state whether there are any Material legislative or regulatory restrictions which subordinate the claims of any class of unsecured creditors of the Registered Bank on the assets of the Overseas Bank to those of any other class of unsecured creditors of the Overseas Bank, in a winding up of that Overseas Bank. If so, the General Short Form Disclosure Statement shall also state:

(a) the legislation or regulations involved and the nature of the impairment of the rights of creditors of the Registered Bank which they create; and

(b) the nature and amount of each Class of the Registered Bank’s liabilities which are so affected.

7. Credit Ratings—(1) The General Short Form Disclosure Statement shall state whether the Overseas Bank has a credit rating applicable to its long term senior unsecured obligations payable in New Zealand, in New Zealand dollars.

(2) For each credit rating required to be disclosed pursuant to subclause (1) of this clause the General Short Form Disclosure Statement shall state:

(a) the name of the person who gave the credit rating;

(b) the current rating and all qualifications to that rating;

(c) any changes made to the rating in the two years preceding the Off Quarter Balance Date and the date on which any such change occurred; and

(d) descriptions or explanations of all the steps in the applicable rating scales.

8. Guarantee Arrangements—(1) The General Short Form Disclosure Statement shall state whether the Material obligations of the Registered Bank, or of any member of the Banking Group which is an Issuer, are guaranteed.

(2) Where a person guarantees any Material obligations of the Registered Bank, or of any member of the Banking Group which is an Issuer, the General Short Form Disclosure Statement shall state:

(a) the name and Address for Service of the guarantor;

(b) whether the guarantor is a member of the Banking Group or Overseas Banking Group;

(c) the nature of the obligations which are guaranteed, including a description sufficient to identify them;

(d) whether there are any limits on the amount of the obligations guaranteed and, if so, a brief summary of the nature of those limits;

(e) whether there are any Material conditions applicable to the guarantee other than non-performance by the principal obligor and, if so, a brief summary of those conditions;

(f) whether there are any Material legislative or regulatory restrictions which would have the effect of subordinating the claims under the guarantee of any of the creditors of the Registered Bank or Banking Group on the assets of the guarantor, to other claims on the guarantor, in a winding up of that guarantor. If so, the General Short Form Disclosure Statement shall also state: