Regulatory Alerts2022-05-17
RBNZ Application Requirements for Banks - March 2006
The Reserve Bank of New Zealand (RBNZ) issued application requirements for New Zealand banks seeking accreditation to implement the Basel II internal models approaches for regulatory capital from January 2008. Banks must submit their applications by July 3, 2006, providing detailed information on their frameworks for calculating regulatory capital for credit and operational risks, including governance, models, data management, and a self-assessment against Basel II requirements. The RBNZ specifies information needed across general scope, structure, governance, self-assessment, use and experience, data management, credit risk rating systems, advanced measurement approach for operational risk, quantitative estimates, and director attestation, while allowing foreign-owned subsidiaries to adapt group application work for their independent submission.