✨ Banking Disclosure Requirements
24 JUNE 2011 NEW ZEALAND GAZETTE, No. 88 2487
(4) If any material obligations of the overseas bank are guaranteed under a cross guaranteeing arrangement, the matters required by clause 12.
(5) Subclause (2) does not apply if subclause (4) applies.
9 Details of guarantor
(1) The name and address for service of the guarantor.
(2) A statement whether the guarantor is a member of the banking group or overseas banking group.
(3) Either—
(a) the amount of the net tangible assets of the guarantor as shown in the most recent publicly available audited financial statements, together with any qualifications in the auditor’s report on those financial statements that reflect on the statement of those assets in the financial statements; or
(b) if the guarantor is a bank, the most recent publicly disclosed capital of the guarantor and the guarantor group expressed as an amount and as a percentage of risk weighted exposures, and the date to which that measure of capital relates.
(4) A statement whether the guarantor has any credit ratings applicable to its long term senior unsecured obligations payable in the currency of the country of its incorporation, and if so, in respect to each such rating—
(a) the name of the person who gave the credit rating; and
(b) the current rating and all qualifications to that rating; and
(c) each change made to the rating in the 2 years immediately before the off-quarter balance date and the date on which that change occurred; and
(d) descriptions or explanations of all steps in the applicable rating scales.
10 Details of guaranteed obligations
(1) A description of the obligations that are guaranteed.
(2) A statement whether there are any limits on the amount of the obligations guaranteed and, if so, a brief summary of the nature of those limits.
(3) A statement whether there are any material conditions applicable to the guarantee other than non-performance by the principal obligor and, if so, a brief summary of those conditions.
(4) A statement whether there are any material legislative or regulatory restrictions in the guarantor’s country of incorporation that, in a liquidation of the guarantor, would have the effect of subordinating the claims under the guarantee of any of the creditors of the overseas bank on the assets of the guarantor to other claims on the guarantor.
(5) If there are any such material legislative or regulatory restrictions,—
(a) the title of the legislation or regulations involved; and
(b) the nature of the subordination of the rights of the creditors; and
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NZ Gazette 2011, No 88
✨ LLM interpretation of page content
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Schedule 2: Information to be included in general short form disclosure statement
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💰 Finance & RevenueBanking, Disclosure statement, Financial information, Registration requirements, Creditors, Subordination, Assets, Liabilities, Guarantees