✨ Banking Regulations
NEW ZEALAND GAZETTE, No. 21
28 FEBRUARY 2011
(b) amounts owing under revolving facilities have been continuously outside of limits for at least the specified number of days
PD means a probability of default determined in accordance with Capital Adequacy Framework (Internal Models Based Approach) (BS2B)
premises means any staffed premises of the registered bank or an agency of the registered bank in New Zealand to which the registered bank’s customers or potential customers have access in order to conduct banking business
qualifying revolving retail exposures has the same meaning as in Capital Adequacy Framework (Internal Models Based Approach) (BS2B)
reporting date means the last day of the accounting period for a disclosure statement
responsible person means a person authorised in writing by a director to sign the disclosure statement of a registered bank in accordance with section 82 of the Act
subsidiary means a subsidiary within the meaning of sections 5 to 8 of the Companies Act 1993 and includes any company or body corporate or association of persons that is classified as a subsidiary in any applicable financial reporting standard approved by the Accounting Standards Review Board under the Financial Reporting Act 1993
ultimate holding company, in relation to a registered bank, means the body corporate that—
(a) is the registered bank’s holding company; and
(b) is not itself a subsidiary of another body corporate; and
(c) is not a bank
ultimate parent bank, in relation to a registered bank, means the bank that—
(a) is the registered bank’s holding company; and
(b) is not itself a subsidiary of another bank
working day means a day of the week on which the head office of a registered bank is open for business.
(2) A term or expression that is used in this Order and not defined in it or in the Act—
(a) if defined in a registered bank’s conditions of registration, has in relation to the registered bank the same meaning as under its conditions of registration; or
(b) if paragraph (a) does not apply and if applicable, must be interpreted in a way that complies with generally accepted accounting practice.
5 Accounting periods for disclosure statements
(1) A full year accounting period is—
(a) the 12 month period that begins on the day after one balance date and ends on the next balance date;
(b) the period longer or shorter than 12 months that begins on the day after one balance date and ends on the next balance date due to—
(i) the date of the registered bank’s incorporation;
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NZ Gazette 2011, No 21
✨ LLM interpretation of page content
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Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2011
(continued from previous page)
💰 Finance & Revenue21 February 2011
Banking, Disclosure Statements, Registered Banks, Definitions, Financial Terms, Accounting Standards