Regulatory Alerts2022-03-30
BS7A - Disclosure regime - explanatory information on Orders in Council
The Reserve Bank of New Zealand issued this guidance to explain the disclosure requirements for registered banks mandated by Orders in Council under the Reserve Bank Act 1989. It details the specific content, format, and publication timelines for annual and half-year disclosure statements, including provisions for overseas banks and the handling of guarantees, credit ratings, and exposure concentrations. The document establishes that directors and chief executives bear legal responsibility for signing these statements and outlines the civil and criminal sanctions applicable for non-compliance with the regime.
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