Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2014 Amendment Order 2021 (No 2)
The Rt Hon Dame PATSY REDDY, gnzm, qso, Governor-General
Order in Council
At Wellington this 16th day of August 2021
Present:
Her Excellency the Governor-General in Council
Pursuant to section 81 of the Reserve Bank of New Zealand Act 1989, Her Excellency the Governor-General, acting on the advice and with the consent of the Executive Council and on the advice of the Minister of Finance given in accordance with a recommendation of the Reserve Bank of New Zealand, makes the following Order.
This order is the Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2014 Amendment Order 2021 (No 2).
This order comes into force on 30 September 2021.
This order amends the Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2014.
(1) This clause amends clause 4(1).
(2) After the definition of “Basel III”, insert:
“BPR001: Glossary means the Reserve Bank document entitled “BPR001: Glossary”
(3) After the definition of “BPR001: Glossary”, insert:
“BPR110: Capital Definitions means the Reserve Bank document entitled “BPR110: Capital Definitions” with defined terms highlighted in the document having the meanings given in BPR001: Glossary.
(4) Replace the definition of Tier 2 capital with:
(5) Replace the definition of Total capital with:
(6) Replace the definition of Total capital ratio with:
MICHAEL WEBSTER, Clerk of the Executive Council.
This note is not part of the order, but is intended to indicate its general effect.
This order comes into force on 30 September 2021. It amends the Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2014, published in a Supplement to the New Zealand Gazette, 21 February 2014, No. 21, page 452. The purpose of this order is to update disclosure requirements upon New Zealand-incorporated registered banks. It adds a new definition of Tier 2 capital to the defined terms in the order in council that applies to New Zealand incorporated banks to allow Tier 2 capital instruments under the new prudential capital framework for registered banks to be factored into the definition of the total capital ratio for disclosure purposes.
This order is administered by the Reserve Bank of New Zealand