✨ Asset Quality Disclosure Requirements
24 JUNE 2011 NEW ZEALAND GAZETTE, No. 87 2249
(f) the aggregate amount of individual credit impairment allowances against individually impaired assets at the reporting date.
4 Movements in balances of total individual credit impairment allowances
(1) Information on movements in the balances of total individual credit impairment allowances over the full year or half year accounting period as applicable, separately disclosing—
(a) the opening balance;
(b) the charge (credit) to the statement of financial performance for an increase or decrease in individual credit impairment allowances;
(c) amounts written off;
(d) recoveries of amounts written off in previous periods;
(e) reversals of previously recognised impairment losses;
(f) other movements, and the nature of those other movements; and
(g) the closing balance.
(2) Movements must be reconciled to the charges allocated to the statement of financial performance.
5 Movements in balance of collective credit impairment allowance
(1) Information on movements in the balance of the collective credit impairment allowance over the full year or half year accounting period as applicable, separately disclosing—
(a) the opening balance;
(b) the charge (credit) to the statement of financial performance for increase or decrease in the collective credit impairment allowance;
(c) other movements, and the nature of those other movements; and
(d) the closing balance.
(2) Movements must be reconciled to the charges allocated to the statement of financial performance.
6 Asset quality for financial assets designated at fair value
(1) For any financial assets designated as at fair value through profit and loss on which there have been changes in fair value that are attributable to changes in credit risk of the financial asset determined in accordance with paragraph 9(c) of NZ IFRS 7, the information in subclause (2).
(2) The following information on the assets referred to in subclause (1), separately from the equivalent information for individually impaired financial assets:
(a) movements over the period in the total balance of such assets, following the same breakdown as required for individually impaired assets under clause 3;
(b) an analysis of credit risk adjustments on individual financial assets designated at fair value, following the same breakdown as required for total individual credit impairment allowances under clause 4; and
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NZ Gazette 2011, No 87
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Asset Quality Disclosure Requirements
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💰 Finance & RevenueBanking, Asset quality, Disclosure, Financial statements, Impairment, Past due assets