✨ Financial Definitions
27 FEBRUARY 2008
NEW ZEALAND GAZETTE, No. 40
conditions of registration, in relation to a registered bank,
means the current conditions of registration imposed on that
registered bank by the Reserve Bank under section 74 of the
Act
counterparty has the same meaning it has in the definition of
“group of closely related counterparties” in NZ IFRS 7
credit risk has the same meaning as in NZ IFRS 7
currency risk has the same meaning as in NZ IFRS 7
director, in relation to an overseas bank, means a person
occupying the position of director of the overseas bank by
whatever name called who whether by himself or herself, or in
conjunction with other directors acting as a board of directors,
has the powers necessary for managing, and for directing and
supervising the management of, the business and affairs of the
overseas bank
disclosure statement has the same meaning as in section 2(1)
of the Act
equity refers to and has the same meaning as “equity” in the
“New Zealand Equivalent to the IASB Framework for the
Preparation and Presentation of Financial Statements” approved
by the Accounting Standards Review Board as amended from
time to time.
equity exposure, in relation to a banking group, means the
amount of the change in the economic value of equity
instruments that are financial assets and financial liabilities of
the banking group in a single currency, which would occur as a
result of a change in the price of equity instruments in that
currency
equity risk means the risk arising from changes in the prices of
equity instruments
fair value has the same meaning as in NZ IAS 32
financial asset has the same meaning as in NZ IAS 32
financial asset acquired through the enforcement of
security has the same meaning as in NZ IFRS 7
financial instrument has the same meaning as in NZ IAS 32
financial liability has the same meaning as in NZ IAS 32
financial reporting group means the New Zealand business of
all the members of the group (as that term is defined in section
2(1) of the Financial Reporting Act 1993) that comprises a
reporting entity that is the overseas bank and its subsidiaries, as
if the members of the group were companies formed and
registered in New Zealand
first quarter accounting period means—
(a) the first 3 month period of an accounting period; or
(b) if clause 21 applies, the first quarter accounting period
determined by the Reserve Bank
generally accepted accounting practice has the same meaning
as in section 3 of the Financial Reporting Act 1993
group of closely related counterparties has the same meaning
as in NZ IFRS 7
holding company has the same meaning as in section 5 of the
Companies Act 1993
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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
✨ LLM interpretation of page content
💰
Registered Bank Disclosure Statement (Off-Quarter—Overseas Incorporated Registered Banks) Order 2008
(continued from previous page)
💰 Finance & RevenueBanking, Disclosure Order, Overseas Banks, Financial Reporting, Capital Adequacy