✨ Banking Regulations Definitions
3236 NEW ZEALAND GAZETTE, No. 121 30 AUGUST 2013
NZ IAS 34 means New Zealand Equivalent to International Accounting Standard 34 (Interim Financial Reporting), approved under the Financial Reporting Act 1993
NZ IAS 39 means New Zealand Equivalent to International Accounting Standard 39 (Financial Instruments: Recognition and Measurement), approved under the Financial Reporting Act 1993
NZ IFRS 7 means New Zealand Equivalent to International Financial Reporting Standard 7 (Financial Instruments: Disclosures), approved under the Financial Reporting Act 1993
other asset under administration means any asset that is not an impaired asset or a 90 day past due asset 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
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
past due has the same meaning as in NZ IFRS 7 and an asset that is a specified number of days past due includes an asset for which, in relation to the contracted terms, conditions, or limits that applied to the asset immediately before non-performance commenced—
(a) any payment of principal, interest or other forms of monies owing is overdue, or has not been paid in accordance with the asset’s terms and conditions, for at least the specified number of days; or
(b) amounts owing under revolving facilities have been continuously outside of limits for at least the specified number of days
PD means a probability of default determined in accordance with Capital Adequacy Framework (Internal Models Based Approach) (BS2B)
premises means any staffed premises of the registered bank or an agency of the registered bank in New Zealand to which the registered bank’s customers or potential customers have access in order to conduct banking business
qualifying revolving retail exposures has the same meaning as in Capital Adequacy Framework (Internal Models Based Approach) (BS2B)
reporting date means the last day of the accounting period for a disclosure statement
responsible person means a person authorised in writing by a director to sign the disclosure statement of a registered bank in accordance with section 82 of the Act
solo basis, for the information required for the registered bank on a solo basis under clause 16(2) of Schedule 11, has the same meaning as in Capital Adequacy Framework (Internal Models Based Approach) (BS2B)
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NZ Gazette 2013, No 121
✨ LLM interpretation of page content
💰
Definitions for Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order (No 2) 2013
(continued from previous page)
💰 Finance & Revenue26 August 2013
Banking, Financial Reporting, Capital Adequacy, Basel II, Basel III, Reserve Bank