✨ Financial Statements Regulations
1130 NEW ZEALAND GAZETTE, No. 40 27 FEBRUARY 2008
Asset quality
5 Classes of assets to which clauses 6 to 8 apply
(1) Clauses 6 to 8 apply to the following classes of assets:
(a) other individually impaired assets;
(b) restructured assets;
(c) financial assets acquired through the enforcement of security;
(d) real estate assets acquired through the enforcement of security;
(e) other assets acquired through the enforcement of security;
(f) 90 day past due assets;
(g) other assets under administration.
(2) To avoid doubt, the disclosure required by clause 6 includes financial assets designated as at fair value through profit and loss, where applicable.
6 Aggregate amounts
(1) The information in subclause (2) in respect of the banking group for each of the classes of assets set out in clause 5.
(2) The following information as at the off-quarter balance date:
(a) the aggregate amount that has been recognised, before deducting allowances for credit impairment loss or allowances for impairment loss created in respect of non-financial assets where applicable; and
(b) the aggregate amount of individual credit impairment allowances or allowances for impairment loss created in respect of non-financial assets.
(3) The information in subclause (4) in respect of the registered bank and banking group for each of the classes of assets set out in subclauses (a), (b), (f) and (g) of clause 5.
(4) The aggregate amount as at the balance date of any undrawn balances on lending commitments to counterparties for whom drawn balances fall within that class of assets, before deducting allowances for credit impairment loss where applicable.
(5) The information that is required to be disclosed under subclauses (2) and (4) must include comparative figures for the previous corresponding period.
7 Movements in balances of total individual credit impairment allowances or allowances for impairment loss created in respect of non-financial assets
(1) The information in subclause (2) in respect of the banking group for each of the classes of assets set out in clause 5.
(2) Information on movements in the balances of total individual credit impairment allowances or allowances for impairment loss created in respect of non-financial assets over the first quarter accounting period or third quarter accounting period (as applicable), separately disclosing—
(a) opening balance; and
(b) charge (credit) to the statement of financial performance for increase or decrease in individual credit impairment
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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
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Schedule 3: Short form financial statements and asset quality
(continued from previous page)
💰 Finance & RevenueFinancial Statements, Asset Quality, Accounting Policies, Credit Risk, Impairment Allowances