✨ Banking Disclosure Statement Order
27 FEBRUARY 2008
NEW ZEALAND GAZETTE, No. 40
The principal amendments to the 2007 Order included in this 2008 Order are to update the drafting of the 2007 Order, to revise the disclosure of capital adequacy in line with the implementation of the Basel II capital adequacy framework in New Zealand, and to remove references to superseded accounting standards and concepts given that all New Zealand banks have now adopted New Zealand IFRSs and New Zealand IASs.
A description of the principal provisions of the revised disclosure regime is given below.
Under the disclosure regime, all registered banks are required to issue a public disclosure statement each quarter. The disclosure statement required to be published under this Order in Council comprises a key information summary, a general short form disclosure statement and, if applicable, a supplemental disclosure statement.
The key information summary provides a brief summary of key financial information on the registered bank and its banking group, and must be made available free of charge immediately upon request. The key information summary must also be displayed prominently in each bank branch and in any other customer-accessible bank premises, and made available or displayed on a bank’s internet website.
The general short form disclosure statement is required to contain a range of financial and corporate information on the bank and its banking group. The general short form disclosure statement need not be displayed in each bank branch, but must be made available free of charge, immediately if the request is made at a bank’s head office, or within 5 working days if the request is made at a bank branch or at any customer-accessible bank premises other than the head office. It must also be readily available on the bank’s internet website. The information required to be included in a general short form disclosure statement includes—
(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). A bank is required to disclose capital charges for each category of market risk (interest rate risk, currency risk and equity risk) both as at the end of the off quarter and in respect of the peak over the most recent quarter of the accounting period:
(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:
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 40
Gazette.govt.nz —
NZ Gazette 2008, No 40
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Explanatory note on Registered Bank Disclosure Statement Order
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💰 Finance & RevenueBanking, Disclosure, Order, Basel II, Capital Adequacy