✨ Financial Regulations
2406 NEW ZEALAND GAZETTE, No. 88 24 JUNE 2011
Schedule 7
Securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products
Contents
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1 Insurance products 2406
2 Banking group’s involvement in securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products 2406
3 Aggregate funding provided to entities 2406
4 Method for deriving peak end-of-day aggregate amount of funding in clause 3 2407
5 Peak end-of-day aggregate amount of funding provided to individual entity 2407
6 Method for deriving peak end-of-day aggregate amount of funding in clause 5 2407
1 Insurance products
(1) In this schedule, insurance products relate to insurance contracts that constitute insurance business.
(2) Information disclosed under clauses 3 to 6 relating to entities on whose behalf the banking group markets or distributes insurance products is required only in respect of affiliated insurance entities or affiliated insurance groups.
2 Banking group’s involvement in securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products
A statement of the nature of the banking group’s involvement in—
(a) the establishment, marketing, or sponsorship of trust, custodial, funds management, and other fiduciary activities; and
(b) the origination of securitised assets, and the marketing or servicing of securitisation schemes; and
(c) the marketing and distribution of insurance products.
3 Aggregate funding provided to entities
(1) The peak end-of-day aggregate amount of funding the banking group has provided over the first quarter accounting period or the most recent quarter of the third quarter accounting period (as applicable) to entities that conduct the activities specified in clause 2 or on whose behalf the banking group conducts the activities specified in clause 2(c).
(2) The peak end-of-day aggregate amount of funding—
(a) includes funding provided by the purchase of securities issued by entities involved in activities specified in clause 2 or on whose behalf the banking group conducts the activities specified in clause 2(c); and
(b) must be expressed as an amount and as a percentage of tier one capital.
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NZ Gazette 2011, No 88
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💰 Schedule 7: Securitisation, funds management, fiduciary activities, and insurance product marketing
💰 Finance & RevenueSecuritisation, Funds management, Fiduciary activities, Insurance products, Banking regulations