Regulatory Alerts2022-03-30
Guidelines on Environmental Risk Management and Disclosure Regime for Registered Banks
The Reserve Bank of New Zealand issued BS7A to provide guidance on the disclosure requirements for registered banks under the Reserve Bank Act 1989. The document mandates that banks publish half-year and full-year disclosure statements containing financial, corporate, and risk-related information, ensuring they are accessible on their websites for at least five years. It further details specific obligations regarding the signing of statements by directors and chief executives, the handling of overseas bank financials, and the legal liabilities associated with non-compliance.
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