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NEW ZEALAND GAZETTE, No. 21

23 FEBRUARY 2007

a
information about credit ratings the bank is required to have, and a disclosure of the current level of each such rating;
b
short form financial statements for the banking group, including details on asset quality;
c
information on capital adequacy (using the Reserve Bank of New Zealand’s capital adequacy framework);
d
information, both as at the end of the off-quarter and in respect of peak for the most recent quarter of the accounting
period, on the banking group’s exposure concentrations to individual counterparties and groups of closely related
counterparties and to connected persons;
e
market risk information, both as at the end of the off-quarter and in respect of peak for the most recent quarter of the
accounting period, on the banking group’s interest rate exposure, foreign currency exposure and equity exposure. A bank
is required to disclose its exposure to each of these categories of market risk, both as an amount and as a percentage of
the banking group’s equity;
f
descriptions of the banking group’s policies and systems for managing risks in respect of a new category of risk not
previously incurred by the banking group;
g
statements signed by the directors of the bank, including an attestation as to whether the directors are satisfied that the
banking group had systems in place to monitor and control adequately the group’s material business risks and whether
the controls have been properly applied over the reporting period, and a statement that the disclosure statement is not
false or misleading.

The General Short Form Disclosure Statement required by this Order in Council is an abbreviated version of the General
Disclosure Statement required by the Registered Bank Disclosure Statement (Full and Half-Year—New Zealand Incorporated
Registered Banks) Order 2007.

Each bank must also publish a Supplemental Disclosure Statement, unless the information it would include is contained in the
General Short Form Disclosure Statement. The Supplemental Disclosure Statement must be made available free of charge,
immediately if the request is made at a bank’s head office, or within five working days if the request is made at a bank branch
or at any customer-accessible bank premises other than the head office. This Order in Council requires the following
information to be contained in a Supplemental Disclosure Statement:

a
the conditions of registration imposed by the Reserve Bank on the registered bank pursuant to section 74 of the Reserve
Bank of New Zealand Act;
b
the contract of guarantee and financial statements of any guarantor, where the material obligations of the registered
bank are guaranteed;
c
where the registered bank has entered into any material cross guaranteeing arrangements, a copy of the full guarantee
contract if there is a contract which sets out, or is representative of, the rights and obligations of all the cross
guarantors;
d
a copy of any bilateral netting agreement the bank has entered into with a connected person.

A bank has two months from its off-quarter balance date to publish the disclosure statements required by this Order in
Council. The exception to is where a bank elects to have its General Short Form Disclosure Statement audited by an external
auditor, in which case the bank has three months to publish its disclosure statement.

The disclosure statements published pursuant to this Order in Council are not required to be audited nor to be subject to a
limited review by an external auditor.

The disclosure statements required by this Order in Council must be signed by all the directors of the bank. A director may
authorise in writing another person to sign on his or her behalf.

The Reserve Bank of New Zealand Act provides for criminal and civil penalties where a bank’s disclosure statement is found to
be false or misleading.

This Order in Council is administered in the Reserve Bank of New Zealand.

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Registered Bank Disclosure Statement (Full and Half-Year—Overseas Incorporated Registered Banks)
Order 2007

ANAND SATYANAND, Governor-General

ORDER IN COUNCIL

At Wellington this 19th day of February 2007

Present:

HIS EXCELLENCY THE GOVERNOR-GENERAL IN COUNCIL

Pursuant to section 81(1) of the Reserve Bank of New Zealand Act 1989, His Excellency the Governor-General, acting by and
with the advice and consent of the Executive Council, and on the advice of the Minister of Finance given in accordance with a
recommendation of the Reserve Bank of New Zealand, hereby makes the following Order.

Analysis

1. Title, Application and Commencement.

Part I—Preliminary

2. Interpretation

3. Form, Frequency and Distribution of Disclosure Statement

4. General Provisions Relating to Content of Disclosure Statement

Part II—Key Information Summary

5. Content of Key Information Summary