✨ Banking Regulations
24 JUNE 2011 NEW ZEALAND GAZETTE, No. 88 2345
3 Capital adequacy
A summary discussion of the following matters, to the extent not otherwise disclosed to comply with paragraph 124A of NZ IAS 1:
(a) the banking group’s approach to assessing the adequacy of its capital to support current and future activities; and
(b) the role that directors and senior management take in the capital management process.
4 Reviews of banking group’s risk management systems
A statement as to—
(a) the nature and frequency of any reviews conducted in respect of the banking group’s risk management systems; and
(b) whether any such reviews were conducted by a party external to the banking group, ultimate parent bank, or ultimate holding company.
5 Internal audit function of banking group
(1) A statement whether the banking group has an internal audit function.
(2) If the banking group has an internal audit function, a statement describing—
(a) the nature and scope of the internal audit function, including type and frequency of audits; and
(b) the reporting responsibilities of internal audit; and
(c) whether there is a board audit committee, and if so, the nature and scope of that committee’s responsibilities.
6 Measurement of impaired assets
(1) The information in subclause (2), to the extent not otherwise disclosed to comply with paragraph 21 of NZ IFRS 7.
(2) A description of approaches followed for individual and collective allowance for impaired assets, and any statistical methods used in assessing asset impairment, including the following information:
(a) the circumstances and criteria under which financial assets are assessed individually; and
(b) the circumstances and criteria under which financial assets are assessed collectively with other financial assets; and
(c) the frequency of assessing impairment; and
(d) how recoverable amounts are calculated.
7 Credit risk mitigation
Where applicable, the following information, to the extent not otherwise disclosed to comply with paragraph 33 of NZ IFRS 7:
(a) the policies and processes for, and an indication of the extent to which the banking group makes use of on- and off-balance sheet netting; and
(b) whether the simple or comprehensive method is used to measure the mitigating effects of collateral; and
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NZ Gazette 2011, No 88
✨ LLM interpretation of page content
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Schedule 9: Risk management policies
(continued from previous page)
💰 Finance & RevenueRisk management, Banking regulations, Credit risk, Liquidity risk, Operational risk, Capital adequacy, Internal audit