✨ Banking Disclosure Requirements
27 FEBRUARY 2008 NEW ZEALAND GAZETTE, No. 40 997
(b) if the registered bank has adopted an Advanced Measurement
Approach to operational risk under the Basel II capital
adequacy framework, a description of that approach;
(c) the contract of guarantee and financial statements of any
guarantor, if the material obligations of the registered bank are
guaranteed:
(d) if the registered bank has entered into any material cross
guaranteeing arrangements, a copy of the full guarantee
contract if there is a contract that sets out, or is representative
of, the rights and obligations of all the cross guarantors:
(e) a copy of any bilateral netting agreement the bank has entered
into with a connected person.
A bank has 3 months after its balance date or interim balance date in
which to publish the disclosure statements required by this order.
The disclosure statement in respect of the end of a financial year is
subject to full external audit. The disclosure statement prepared as at
the half year is subject to a limited review by an external auditor,
although a registered bank may elect to obtain a full external audit. The
audit opinions at both of these periods concern whether the information
disclosed gives a true and fair view of the matters to which it relates.
The disclosure statements required by this Order in Council must be
signed by all the directors of the bank. A director may authorise in
writing another person to sign on his or her behalf.
The Reserve Bank of New Zealand Act provides for criminal and civil
penalties where a bank’s disclosure statement is found to be false or
misleading.
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This Order in Council is administered in the Reserve Bank of New Zealand.
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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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Registered Bank Disclosure Statement Order 2008
(continued from previous page)
💰 Finance & RevenueBanking, Disclosure requirements, Financial statements, Capital adequacy, Basel II, IFRS, IAS, Supplemental disclosure