✨ Bank Disclosure Requirements
27 FEBRUARY 2008 NEW ZEALAND GAZETTE, No. 40 1125
14
Credit rating
If the registered bank is required, by a notice given to it under
section 80 of the Act, to obtain or maintain a rating of its
creditworthiness or financial condition by a person nominated
or approved by the Reserve Bank, with respect to each rating
obtained or maintained by the Registered Bank that complies
with the notice given under section 80 of the Act, the following
information:
(a) the name of the person who gave the rating:
(b) the type of rating:
(c) the current rating and all qualifications to that rating:
(d) any change made to the rating in the 2 years
immediately before the off-quarter balance date and the
date on which the change occurred:
(e) descriptions or explanations of all steps in the
applicable rating scales.
15
Insurance business
A statement whether the banking group carries on any
insurance business, and if it does, the following information:
(a) a description of each class of that insurance business:
(b) the aggregate amount of insurance business, where the
amount disclosed is calculated in accordance with the
registered bank’s conditions of registration:
(c) comparative figures for the previous corresponding
period for the information that is required to be
disclosed under paragraph (b).
16
(1) Non-consolidated activities
A statement whether the overseas bank carries on any insurance
business or non-financial activities in New Zealand that are
outside the banking group, and if it does, the following
information:
(a) a brief explanation of the overseas bank’s involvement
in that insurance business or those non-financial
activities:
(b) the total assets, total equity, and total profits before and
after tax of that insurance business on a consolidated
basis, and if that insurance business is carried on by an
overseas incorporated company, separately in respect of
the overseas company’s group and that group’s New
Zealand business:
(c) the total assets, total equity, and total profits before and
after tax of those non-financial activities on a
consolidated basis, and if those non-financial activities
are carried on by an overseas incorporated company,
separately in respect of the overseas company’s group
and that group’s New Zealand business:
(d) comparative figures for the previous corresponding
period for the information that is required to be
disclosed under paragraphs (a) to (c).
(2) If the content of the supplemental disclosure statement is not
included in the general short form disclosure statement, a
statement—
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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
💰
Schedule of key information summary requirements for registered banks
(continued from previous page)
💰 Finance & RevenueBank Disclosure, Financial Statements, Overseas Bank, Banking Group, Supplemental Disclosure Statement, General Short Form Disclosure Statement, Auditor's Report, Financial Transparency, Compliance, Disclosure Requirements, Material Cross Guarantees, Conditions of Registration, Credit Rating, Insurance Business, Non-Consolidated Activities