✨ Insurance and Financial Services Disclosure
NEW ZEALAND GAZETTE, No. 21
21 FEBRUARY 2014
Schedule 15—Full year
Insurance business, securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products
Contents Page
1 Insurance products .....................................................................................................530
2 Insurance business .....................................................................................................530
3 Banking group’s involvement in securitisation, funds management, other fiduciary activities, and marketing and distribution of insurance products ............................................................................................531
4 Arrangements to ensure no adverse impacts arising from the activities specified in clause 3.......................................................................531
5 Amounts represented by activities specified in clause 3(a) and (b) ....................................531
6 Financial services provided to entities conducting activities specified in clause 3..................................................................................532
7 Assets purchased from entities conducting activities specified in clause 3.....................................................................................................532
8 Funding provided to entities in aggregate and individually..................................................532
9 Method for deriving peak end-of-day amount of funding in aggregate and individually in clause 8..................................................................532
1 Insurance products
(1) In this Schedule, insurance products relate to insurance contracts which constitute insurance business.
(2) Information disclosed under clauses 6 to 9 relating to entities on whose behalf the registered bank’s banking group markets or distributes insurance products is required only in respect of affiliated insurance entities or affiliated insurance groups.
2 Insurance business
A statement on whether or not the registered bank’s banking group conducts any insurance business, and if it does, the following information:
(a) the aggregate amount of insurance business as at the balance date, where the amount so disclosed is calculated in accordance with the registered bank’s conditions of registration;
(b) an explanation of how the registered bank’s banking group manages its insurance business, including information on whether—
(i) any insurance business is conducted in special purpose subsidiaries whose business activities predominantly comprise insurance business, and if so, the name of each of those subsidiaries, and a description of the insurance business conducted in each subsidiary; and
(ii) in relation to any other member of the registered bank’s banking group, any insurance business is accounted for in its statement of financial position, and if so—Next Page →
NZ Gazette 2014, No 21
✨ 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, Insurance, Securitisation, Funds Management, Fiduciary Activities, Marketing, Distribution
💰 Insurance Products and Business Disclosure
💰 Finance & RevenueInsurance Products, Insurance Business, Banking Group, Affiliated Entities, Financial Disclosure