✨ Financial Definitions
NEW ZEALAND GAZETTE, No. 88
24 JUNE 2011
2278
EAD refers to exposure at default determined in accordance with Capital Adequacy Framework (Internal Models Based Approach) (BS2B)
equity has the same meaning as "equity" in the "New Zealand Equivalent to the IASB Conceptual Framework for Financial Reporting"
equity exposure, in relation to a banking group, means the amount of the change in the economic value of equity instruments that are financial assets and financial liabilities of the banking group in a single currency, which would occur as a result of a change in the price of equity instruments in that currency
equity risk means the risk arising from changes in the prices of equity instruments
fair value has the same meaning as in NZ IAS 32
financial asset has the same meaning as in NZ IAS 32
financial asset acquired through the enforcement of security has the same meaning as in NZ IFRS 7
financial instrument has the same meaning as in NZ IAS 32
financial liability has the same meaning as in NZ IAS 32
financial reporting group means—
(a) a registered bank (as reporting entity); and
(b) all other entities included in the group (as defined in section 2(1) of the Financial Reporting Act 1993)
generally accepted accounting practice has the same meaning as in section 3 of the Financial Reporting Act 1993
government guarantee means a guarantee of all or some of a registered bank’s obligations, or a similar arrangement, provided—
(a) under the New Zealand deposit guarantee scheme;
(b) under another guarantee or similar arrangement provided by the New Zealand government; or
(c) by a sovereign authority in an overseas jurisdiction
group of closely related counterparties has the same meaning as in NZ IFRS 7
holding company has the same meaning as in section 5 of the Companies Act 1993
immediate relative, in relation to any person, means their spouse, civil union partner, or de facto partner (as defined in the Property (Relationships) Act 1976), and any parent, brother, sister or child, in each case whether or not adoptive, of that person or of their spouse, civil union partner, or de facto partner
independent director, in relation to a registered bank, has the same meaning as in the conditions of registration for the registered bank
individual credit impairment allowance means an allowance for credit impairment loss on individual assets
individually impaired asset means a financial asset that is individually determined to be impaired at reporting date in accordance with NZ IAS 39 paragraphs 58 to 62
insurance business, in relation to a registered bank, has the same meaning as in the conditions of registration for the registered bank
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NZ Gazette 2011, No 88
✨ LLM interpretation of page content
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Registered Bank Disclosure Statement Order
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💰 Finance & RevenueBanking, Disclosure Statement, Financial Reporting, Definitions