NEW ZEALAND GAZETTE, No. 16 — 19 FEBRUARY 2015

instruments in accordance with NZ IFRS 9, an explanation of how changes in the gross carrying amounts of financial instruments contributed to changes in loss allowances, as if paragraph 35I of NZ IFRS 7 applied.

(2) When disclosing the information specified in subclause (1), and when disclosing the information required by paragraph 35I of NZ IFRS 7 for the full year disclosure statement, the registered bank must include the items in subclause (3) in respect of gross asset balances, to the extent not otherwise disclosed to comply with NZ IFRS 7.

(3) The items referred to in subclause (2) are:

(a) the pre-allowance opening balance;

(b) additions;

(c) amount written off;

(d) deletions;

(e) the pre-allowance closing balance; and

(f) the loss allowance at the reporting date."

10. Clause 2 of Schedule 8 amended

Replace clause 2(1) of Schedule 8 with:

"(1) If the registered bank assesses credit impairment allowances in accordance with NZ IAS 39, the information in subclause (2) in respect of the registered bank’s banking group."

11. New Clause 2A in Schedule 8

After clause 2 of Schedule 8 insert:

"2A End-period balances (NZ IFRS 9)

(1) If the registered bank measures loss allowances for financial instruments in accordance with NZ IFRS 9, the information in subclause (2) in respect of the registered bank’s banking group.

(2) The following information as at the reporting date:

(a) the aggregate amount of individually impaired assets that has been recognised, before deducting loss allowances;

(b) the amount of loss allowances that are:

(i) measured at 12-month expected credit losses;

(ii) measured at lifetime expected credit losses, showing separately allowances associated with:

(A) financial instruments that are not credit-impaired financial assets;

(B) financial assets that are credit-impaired at the reporting date (but that are not purchased or originated credit-impaired);

(C) trade receivables, contract assets or lease receivables for which the loss allowances are measured under NZ IFRS 9;

(iii) associated with financial assets that are purchased or originated credit-impaired.

(c) the aggregate amount of assets that are at least 90 days past due but are not individually impaired assets."

12. Clause 3 of Schedule 8 amended

Replace clause 3(1) of Schedule 8 with:

"(1) If the registered bank assesses credit impairment allowances in accordance with NZ IAS 39, the information in subclause (2) in respect of the registered bank’s banking group."

13. New Clause 3A in Schedule 8

After clause 3 of Schedule 8 insert:

"3A Charges to the statement of financial performance (NZ IFRS 9)

(1) If the registered bank measures loss allowances for financial instruments in accordance with NZ IFRS 9, the information in subclause (2) in respect of the registered bank’s banking group.

(2) The following information for the off quarter reporting period:

(a) the charge (credit) to the statement of financial performance associated with an increase or decrease in loss allowances measured at 12-month expected credit losses;

(b) the charge (credit) to the statement of financial performance associated with an increase or decrease in loss allowances measured at lifetime expected credit losses, showing separately the charge (credit)

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