✨ Banking Regulation Order
27 FEBRUARY 2008
NEW ZEALAND GAZETTE, No. 40
(iii)
any policies on the use of financial instruments
to mitigate or hedge risks.
REBECCA KITTERIDGE, for Clerk of the Executive Council.
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Explanatory note
This note is not part of the order, but is intended to indicate its general effect.
This order, which comes into force on 30 March 2008, applies to a registered bank that is incorporated in a country other than New Zealand, and that operates in New Zealand as a branch of the overseas bank, in respect of each such bank’s “off-quarters” (i.e. the first and third quarters of the bank’s financial year). It replaces the Registered Bank Disclosure Statement (Off-Quarter—Overseas Incorporated Registered Banks) Order 2007.
The principal amendments to the 2007 Order included in this 2008 Order are to update the drafting of the 2007 Order and to remove references to superseded accounting standards and concepts given that all New Zealand banks have now adopted New Zealand IFRSs and New Zealand IASs.
A description of the principal provisions of the revised disclosure regime is given below.
Under the disclosure regime, all registered banks are required to issue a public disclosure statement each quarter. The disclosure statement required to be published under this order comprises a key information summary, a general short form disclosure statement and, if applicable, a supplemental disclosure statement.
The key information summary provides a brief summary of key financial information on the registered bank and banking group, and must be made available free of charge immediately on request if the request is made at the registered bank’s head office. The key information summary must also be displayed prominently in each bank branch and in any other customer-accessible bank premises, and made available or displayed on a bank’s internet website.
The general short form disclosure statement is required to contain a range of financial and corporate information on the bank and its banking group. The general short form disclosure statement need not be displayed in each bank branch, but must be made available free of charge, immediately if the request is made at a bank’s head office, or within 5 working days if the request is made at a bank branch or at any customer-accessible bank premises other than the head office. It must also be readily available on the bank’s internet website. The information required to be included in a general short form disclosure statement includes—
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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 Order 2008
💰 Finance & RevenueBanking, Disclosure, Financial Statements, Overseas Banks, Off-Quarters
- REBECCA KITTERIDGE, for Clerk of the Executive Council