3068 NEW ZEALAND GAZETTE No. 126

(b) contain information which is the closest available alternative to that required to be disclosed pursuant to this Order.

(6) The comparative information required to be disclosed by this Order for the previous corresponding period shall be restated so that it corresponds to the information presented for the current period. Where there has been a Material restatement of prior period amounts, the nature of, and the reason for, the restatement shall be disclosed.

(7) A Registered Bank need not disclose comparative information where this information is not readily available, provided that comparative information shall be deemed to be readily available 12 months after the date at which such information was first required to be Published.

(8) A Registered Bank shall disclose the currency used where financial statements, or information drawn from financial statements, are disclosed in a currency other than New Zealand dollars.

(9) Other than in the case of copies of guarantee contracts, all information disclosed in accordance with this Order shall be disclosed in English.

Part II

Key Information Summary

5. Content of Key Information Summary—

(1) Subject to subclause (2) of this clause, the Key Information Summary shall contain, in the same order and under the same headings, the information required to be disclosed pursuant to subclause (6) of this clause, as at the Registered Bank’s Balance Date or for the Accounting Period or Interim Accounting Period, as the case may be, unless otherwise stated.

(2) If a Key Information Summary would be false or misleading as a result of stating the information required to be disclosed pursuant to subclause (6) of this clause, information and explanations that will make the Key Information Summary not false or misleading shall also be stated under the relevant heading.

(3) The information required to be disclosed pursuant to subclause (6)(d) to (i) of this clause shall:

(a) relate to the Banking Group;

(b) include comparative figures for the previous corresponding period.

(4) Where applicable, the information contained in the Key Information Summary shall be taken from the information contained in the General Disclosure Statement.

(5) The Key Information Summary may contain additional information, to which the information stated pursuant to subclause (6) of this clause may refer by way of note, provided that such information is set out after the information required to be disclosed pursuant to subclause (6) of this clause.

(6) The Key Information Summary shall contain:

(a) Introductory information—

the following statement:

“The purpose of this Key Information Summary is to provide customers and potential customers with information about the financial condition of their bank.

Neither the New Zealand Government nor the Reserve Bank of New Zealand guarantees or insures bank deposits.

The information contained in the Key Information Summary is explained in the Reserve Bank publication ‘Your Bank’s Disclosure Statement—What’s In It For You?’, which can be obtained from the Reserve Bank... (or, at the option of the Registered Bank, ... from the Reserve Bank and the (name of bank)’).

(b) Corporate information—

(i) the name of the Registered Bank;

(ii) if applicable, the name of any person that is the Ultimate Parent Bank of the Registered Bank and its country of domicile;

(iii) if applicable, the name of any person that is the Ultimate Holding Company of the Registered Bank and its country of domicile;

(c) Credit rating—

(i) a statement as to whether the Registered Bank has a credit rating applicable to its long term senior unsecured obligations payable in New Zealand, in New Zealand dollars; and

(ii) if so, with respect to each such rating:

(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 Balance Date and the date on which any such change occurred;

(d) Profitability—

(i) net profit or loss after tax and extraordinary items over the Accounting Period or Interim Accounting Period, including a description of the Accounting Period or Interim Accounting Period;

(ii) net profit or loss after tax and extraordinary items over the 12 month period ending on the current Balance Date, expressed as a percentage of the average of total assets;

(e) Size—

(i) total assets;

(ii) the percentage change in total assets over the 12 month period ending on the current Balance Date;

(f) Capital adequacy—

(i) Tier One Capital expressed as a percentage of risk weighted exposures, and the minimum percentage of this ratio permitted under the Registered Bank’s Conditions of Registration;

(ii) Capital expressed as a percentage of risk weighted exposures, and the minimum percentage of this ratio permitted under the Registered Bank’s Conditions of Registration;

(g) Asset quality—

(i) total Impaired Assets (before provisions and net of interest held in suspense);

(ii) total Impaired Assets expressed as a percentage of total assets;

(iii) total Specific Provisions;

(iv) total Specific Provisions expressed as a percentage of total Impaired Assets;

(h) Peak Credit Exposure concentrations—

For the most recent quarter of the Accounting Period or Interim Accounting Period:

(i) the number of individual non Bank Counterparties or Groups of Closely Related Counterparties of which a Bank is not the parent; and

(ii) the number of individual Bank Counterparties or Groups of Closely Related Counterparties of which a Bank is the parent;

to which the Banking Group has a peak end-of-day aggregate Credit Exposure which equals or exceeds 10% of the Banking Group’s Equity, in successive ranges of 10% of the Banking Group’s Equity.