✨ Banking Definitions
1060
NEW ZEALAND GAZETTE, No. 40
27 FEBRUARY 2008
(a) is in receivership, liquidation, bankruptcy, statutory
management, a no asset procedure, voluntary
administration, or any other form of administration in
New Zealand; or
(b) is in any other equivalent form of voluntary or
involuntary administration in an overseas jurisdiction
other individually impaired asset has the same meaning as in
NZ IFRS 7
overseas bank means a financial institution incorporated
outside New Zealand which has been authorised, registered, or
licensed as a bank in its country of domicile by the appropriate
banking supervisory authority and, unless the context otherwise
requires, is the bank of which the registered bank is the New
Zealand branch
overseas banking group means an overseas bank and all other
entities included in the group for the purposes of public
reporting of group financial statements in the country of
domicile of the overseas bank
premises, in relation to a registered bank, means any staffed
premises of the registered bank, or an agency of the registered
bank, to which the registered bank’s customers or potential
customers have access in order to conduct banking business
rate insensitive assets means that amount of the financial
assets held by the banking group that the registered bank
reasonably believes is unlikely to be diminished or increased as
a result of a material change in market interest rates if the
interest rate applicable to that financial asset (which may be
zero) does not change or does not change materially
rate insensitive liabilities means that amount of the financial
liabilities held by the banking group that the registered bank
reasonably believes is unlikely to be diminished or increased as
a result of a material change in market interest rates if the
interest rate applicable to that financial liability (which may be
zero) does not change or does not change materially
rate insensitive product means a rate insensitive asset or a rate
insensitive liability
real estate asset acquired through the enforcement of
security means any land or building which is legally owned as
the result of enforcing security, other than a building occupied
by the bank
register means the register of registered banks maintained
under section 69 of the Act
registered bank means the New Zealand business of the entity
that is entered on the register, as if that entity’s business were
conducted by a company formed and registered in New Zealand
responsible person means a person authorised in writing by a
director or the New Zealand chief executive officer to sign the
disclosure statement of a registered bank in accordance with
section 82 of the Act
restructured asset has the same meaning as in NZ IFRS 7
retail deposit has the same meaning as in the conditions of
registration
subsidiary means a subsidiary within the meaning of sections 5
to 8 of the Companies Act 1993
Next Page →
Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2008, No 40
Gazette.govt.nz —
NZ Gazette 2008, No 40
✨ LLM interpretation of page content
💰
Registered Bank Disclosure Statement Order Definitions
(continued from previous page)
💰 Finance & Revenue25 February 2008
Banking, Disclosure, Order, Reserve Bank, Definitions, Financial Instruments, Accounting Standards