✨ Banking Regulations
526 NEW ZEALAND GAZETTE, No. 21 21 FEBRUARY 2014
(2) The following criteria:
(a) a credit rating that applies to—
(i) the relevant entity’s long term senior unsecured obligations payable in New Zealand, in New Zealand dollars; or
(ii) the relevant entity’s long term senior unsecured foreign currency obligations:
(b) a credit rating given by a rating agency that has been approved by the Reserve Bank of New Zealand under section 80 of the Act.
(3) If an entity has 2 or more credit ratings that meet the criteria in subclauses (1) and (2) and those credit ratings are not the same, then the lowest credit rating applies.
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✨ LLM interpretation of page content
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Credit Risk and Capital Adequacy Requirements for Registered Banks
(continued from previous page)
💰 Finance & RevenueBanking, Capital Adequacy, Credit Risk, Credit Rating, Reserve Bank of New Zealand
NZ Gazette 2014, No 21