New Zealand Gazette – 2008 – No. 40

Page 1122

✨ Bank Disclosure Requirements



1122 NEW ZEALAND GAZETTE, No. 40 27 FEBRUARY 2008

corporate referred to in paragraphs (a) and (b) to provide material financial support to the registered bank.

5
Subordination of claims of creditors

(1) A statement whether there are any material legislative or regulatory restrictions in the overseas bank’s country of incorporation that, in a liquidation of the overseas bank, subordinate the claims of any class of unsecured creditors of the registered bank on the assets of the overseas bank to those of any other class of unsecured creditors of the overseas bank.

(2) If subclause (1) applies,—

(a) the title of the legislation or regulations involved; and

(b) the nature of the subordination of the rights of creditors of the registered bank; and

(c) the nature and amount of each class of the registered bank’s liabilities that are affected.

6
Requirement to hold excess assets over deposit liabilities

If the registered bank is required by any statute to hold in New Zealand an excess of assets over deposit liabilities,—

(a) the title of the statute; and

(b) a description of the requirement; and

(c) a statement whether, since the commencement of the accounting period, the registered bank has at all times complied with that requirement.

7
Requirement to maintain sufficient assets to cover ongoing obligation to pay deposit liabilities

If the overseas bank is subject to any regulatory or legislative requirement in the overseas bank’s country of incorporation to maintain sufficient assets in that country to cover an ongoing obligation to pay deposit liabilities in that country,—

(a) the title of the legislation or regulations that impose the requirement; and

(b) a description of the requirement; and

(c) a statement that the requirement has the potential to impact on the management of the liquidity of the New Zealand operations of the overseas bank.

8
Guarantees

(1) A statement whether any material obligations of the overseas bank are guaranteed.

(2) If a person guarantees any material obligations of the overseas bank, and clause 12 does not apply, the matters set out in clauses 9 to 11.

9
Details of guarantor

(1) The name and address for service of the guarantor.

(2) A statement whether the guarantor is a member of the banking group or overseas banking group.

(3) Either—

(a) the amount of the net tangible assets of the guarantor as shown in the most recent publicly available audited



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2008, No 40


Gazette.govt.nz — PDF NZ Gazette 2008, No 40




✨ LLM interpretation of page content

💰 Schedule of key information summary requirements for registered banks (continued from previous page)

💰 Finance & Revenue
Bank Disclosure, Financial Statements, Overseas Bank, Banking Group, Supplemental Disclosure Statement, General Short Form Disclosure Statement, Auditor's Report, Financial Transparency, Compliance, Disclosure Requirements