✨ Banking Disclosure Requirements
1086
NEW ZEALAND GAZETTE, No. 40
27 FEBRUARY 2008
(C) any changes to the rating in the 2 years
immediately before the 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.
(2) For the purpose of this subclause (1), credit enhancement,
affiliated insurance group, and funding must be interpreted in
accordance with the Capital Adequacy Framework
(Standardised Approach) (BS2A).
(3) The information that is required to be disclosed under subclause
(1) must include comparative figures for the previous
corresponding period.
(4) If risk attaches to financial assets and financial liabilities set off
in accordance with NZ IAS 32, the following information in
respect of the registered bank and banking group —
(a) the gross amount of financial assets and financial
liabilities set off; and
(b) the nature of the risk attaching to the assets and
liabilities set off; and
(c) the revenues and expenses relating to the assets and
liabilities set off.
(5) The disclosure required by subclause (4) is subject to a
materiality criterion.
(6) For the purpose of subclause (4), risk attaches to any financial
assets and liabilities set off if the financial instruments
comprising the set-off have differing interest bases or
currencies.
2 Supplementary information on related party transactions
(1) The information in subclause (2) in respect of the registered
bank and banking group, to the extent not otherwise disclosed
to comply with NZ IAS 24.
(2) The nature and recorded value (or the total of outstanding
balances, as applicable), of each of the following types of
related party transactions:
(a) management contracts:
(b) agency relationships:
(c) taxation grouping arrangements:
(d) debts or other amounts owing which have been forgiven
over the reporting period:
(e) transactions which have taken place at nil or nominal
value, including a brief description of those transactions
and a statement that no or nominal charge has been
made.
(3) The information that is required to be disclosed under subclause
(2) must include comparative figures for the previous
corresponding period.
(4) The disclosure required by subclause (2) is subject to a
materiality criterion.
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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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Banking Disclosure Requirements
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