✨ Financial Regulation Definitions
24 JUNE 2011
NEW ZEALAND GAZETTE, No. 88
2417
non-financial asset acquired through the enforcement of security
means any asset which is legally owned as the result of enforcing security, other than a financial asset or a building occupied by the bank
other asset acquired through the enforcement of security
means any asset which is legally owned as the result of enforcing security, other than a financial asset or a land or building asset
other asset under administration
means any asset that is not an impaired asset or a 90 day past due asset, but where the counterparty—
(a) is in receivership, liquidation, bankruptcy, statutory management, a no asset procedure, voluntary administration, or any other form of administration in New Zealand; or
(b) is in any other equivalent form of voluntary or involuntary administration in an overseas jurisdiction
other individually impaired asset
has the same meaning as in NZ IFRS 7
overseas bank
means a financial institution incorporated outside New Zealand which has been authorised, registered, or licensed as a bank in its country of domicile by the appropriate banking supervisory authority and, unless the context otherwise requires, is the bank of which the registered bank is the New Zealand branch
overseas banking group
means an overseas bank and all other entities included in the group for the purposes of public reporting of group financial statements in the country of domicile of the overseas bank
premises, in relation to a registered bank, means any staffed premises of the registered bank, or an agency of the registered bank, to which the registered bank’s customers or potential customers have access in order to conduct banking business
rate insensitive assets
means that amount of the financial assets held by the banking group that the registered bank reasonably believes is unlikely to be diminished or increased as a result of a material change in market interest rates if the interest rate applicable to that financial asset (which may be zero) does not change or does not change materially
rate insensitive liabilities
means that amount of the financial liabilities held by the banking group that the registered bank reasonably believes is unlikely to be diminished or increased as a result of a material change in market interest rates if the interest rate applicable to that financial liability (which may be zero) does not change or does not change materially
rate insensitive product
means a rate insensitive asset or a rate insensitive liability
real estate asset acquired through the enforcement of security
means any land or building which is legally owned as the result of enforcing security, other than a building occupied by the bank
register
means the register of registered banks maintained under section 69 of the Act
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NZ Gazette 2011, No 88
✨ LLM interpretation of page content
💰
Registered Bank Disclosure Statement Order 2011
(continued from previous page)
💰 Finance & RevenueFinancial regulation, Definitions, Capital, Disclosure statements, Banking terms, Asset classification