Regulatory Alerts2022-05-17
Reserve Bank of New Zealand Feedback Statement on Consultation Regarding Registered Bank Disclosure Requirements
The Reserve Bank of New Zealand has finalized a review of registered bank disclosure requirements, adopting Option B to significantly reduce compliance costs and streamline reporting. The new regime eliminates the quarterly Key Information Summary and Supplemental Disclosure Statement in favor of a single quarterly document aimed at financially experienced readers. Key changes include shortening the half-year disclosure deadline to two months, requiring interim accounting standards for half-year statements, and mandating that disclosure documents be easily accessible on bank websites with a five-year archive.
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