✨ Financial Regulation Notices
24 JUNE 2011 NEW ZEALAND GAZETTE, No. 88 2447
(ii) the total amount of funding provided by the banking group; and
(iii) the total amount of any other credit exposures provided by the banking group, broken down according to their ranking on a liquidation of the insurance group; and
(iv) if the entity heading the insurance group has 1 or more financial strength ratings, claims paying ability ratings, or credit ratings applicable to its long term senior unsecured obligations payable in New Zealand, in New Zealand dollars, in respect of each such rating—
(A) the name of the person who gave the rating; and
(B) the current rating and all qualifications to that rating; and
(C) any changes to the rating in the 2 years immediately before the balance date and the date on which any such change occurred; and
(D) descriptions or explanations of all the steps in the applicable rating scales.(2) For the purpose of this subclause (1), credit enhancement, affiliated insurance group, and funding must be interpreted in accordance with the Capital Adequacy Framework (Standardised Approach) (BS2A).
(3) The information that is required to be disclosed under subclause (1) must include comparative figures for the previous corresponding period.
(4) If risk attaches to financial assets and financial liabilities set off in accordance with NZ IAS 32, the following information in respect of the registered bank and banking group —
(a) the gross amount of financial assets and financial liabilities set off; and
(b) the nature of the risk attaching to the assets and liabilities set off; and
(c) the revenues and expenses relating to the assets and liabilities set off.(5) The disclosure required by subclause (4) is subject to a materiality criterion.
(6) For the purpose of subclause (4), risk attaches to any financial assets and liabilities set off if the financial instruments comprising the set-off have differing interest bases or currencies.
2
Supplementary information on related party transactions
(1) The information in subclause (2) in respect of the registered bank and banking group, to the extent not otherwise disclosed to comply with NZ IAS 24.
(2) The nature and recorded value (or the total of outstanding balances, as applicable), of each of the following types of related party transactions:
(a) management contracts:
(b) agency relationships:Next Page →
NZ Gazette 2011, No 88
✨ LLM interpretation of page content
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Registered Bank Disclosure Statement Order 2011
(continued from previous page)
💰 Finance & RevenueFinancial regulation, Disclosure statements, Banking terms, Publication requirements, Reserve Bank