✨ Banking Regulation Definitions
28 FEBRUARY 2011 NEW ZEALAND GAZETTE, No. 21 533
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 branch in New Zealand 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;
(ii) a change of the registered bank’s balance date; or(c) for a first disclosure statement, the period determined by the Reserve Bank.
(2) Balance date means—
(a) in subclause (1), the balance date of the registered bank under section 7 of the Financial Reporting Act 1993; or
(b) for a first disclosure statement, the date determined by the Reserve Bank.
(3) A half year accounting period—
(a) if subclause (1)(a) applies, is the first 6 month period of a full year accounting period; or
(b) if subclause (1)(b) applies, is the period determined by the Reserve Bank under subclause (8).
(4) A first quarter accounting period—
(a) if subclause (1)(a) applies, is the first 3 month period of a full year accounting period; or
(b) if subclause (1)(b) applies, is the period determined by the Reserve Bank under subclause (8).
(5) A third quarter accounting period—
(a) if subclause (1)(a) applies, is the first 9 month period of a full year accounting period; or
(b) if subclause (1)(b) applies, is the period determined by the Reserve Bank under subclause (8).
(6) A fourth quarter accounting period is the period determined by the Reserve Bank under subclause (8) but occurs only if—
(a) subclause (1)(b) applies and the full year accounting period is 14 months or more; and
(b) after consultation with the registered bank, the Reserve Bank requires a fourth quarter accounting period.
(7) An off quarter accounting period is—
(a) a first quarter accounting period;
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NZ Gazette 2011, No 21
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Banking Regulation Definitions
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💰 Finance & RevenueBanking regulation, Definitions, Financial instruments, Reserve Bank of New Zealand, Accounting periods