General Information & Client Services
  • Americas: +1.212.553.1653
  • Asia: +852.3551.3077
  • China: +86.10.6319.6580
  • EMEA: +44.20.7772.5454
  • Japan: +81.3.5408.4100
Media Relations
  • New York: +1.212.553.0376
  • London: +44.20.7772.5456
  • Hong Kong: +852.3758.1350
  • Tokyo: +813.5408.4110
  • Sydney: +61.2.9270.8141
  • Mexico City: +001.888.779.5833
  • Buenos Aires: +0800.666.3506
  • São Paulo: +0800.891.2518
July 03, 2018

RBNZ is consulting on the insurance solvency standards and the NZ IFRS 16 on leases. Comments are requested by August 24, 2018. RBNZ aims to finalize the proposed changes and amend the current solvency standards with effect from January 01, 2019.

The consultation proposes changes to the insurance solvency standards to cater to the new assets and liabilities introduced by NZ IFRS 16. RBNZ seeks additional information from licensed insurers on the current and proposed accounting treatment of lease contracts through a survey in Appendix A. The paper also discusses the requirements of NZ IFRS 16, the reasons for the proposed changes, and the alternatives considered. The paper sets out matters considered by RBNZ in developing the proposed changes. Appendix B of the consultation paper sets out the draft text of the proposed solvency standard changes while Appendix D sets out a range of alternative options for changes RBNZ has considered and the reasons why these are not preferred.


Related Links

Comment Due Date: August 24, 2018

Effective Date: January 01, 2019

Keywords: Asia Pacific, New Zealand, Insurance, Accounting, Leases, NZ IFRS 16, Solvency, RBNZ

Related Insights
News

FSB Publishes the G-SIB List for 2018

FSB published the 2018 list of global systemically important banks (G-SIBs) using end-2017 data and an assessment methodology designed by BCBS.

November 16, 2018 WebPage Regulatory News
News

BCBS Publishes Additional Information on the 2018 G-SIB Assessment

BCBS published further information related to the 2018 assessment of global systemically important banks (G-SIBs), including additional details to help understand the scoring methodology.

November 16, 2018 WebPage Regulatory News
News

CBB Proposes and Finalizes Rulebook Modules for Banks in November 2018

CBB announced the issuance of new leverage ratio requirements under Module CA (Part 3) for Islamic (Chapter CA-10) and conventional bank licensees (Chapter CA-15).

November 15, 2018 WebPage Regulatory News
News

OFR on Financial Stability Risks in Its 2018 Annual Report to Congress

OFR released its 2018 Annual Report to Congress, which examines risks to the financial stability in the United States.

November 15, 2018 WebPage Regulatory News
News

SRB Sets Expectations on Resolvability of Banks in Context of Brexit

SRB published a position paper that presents its expectations about ensuring resolvability of banks in the context of Brexit.

November 15, 2018 WebPage Regulatory News
News

PRA Publishes Final Policy on Capital Framework for Securitization

PRA published the policy statement PS29/18, which provides feedback to responses to the consultation paper CP12/18 on the new EU framework and significant risk transfer for securitization.

November 15, 2018 WebPage Regulatory News
News

IAIS Publishes Drafts of Revised ICP 8, ICP 15, ICP 16, and ICP 20

IAIS published the drafts of revised Insurance Core Principles on Public Disclosure (ICP 20), Investments (ICP 15), Enterprise Risk Management for Solvency Purposes (ICP 16), and Risk Management and Internal Controls (ICP 8), along with a revised draft of the glossary on enterprise risk management (ERM).

November 14, 2018 WebPage Regulatory News
News

PRA Updates Final Policy and Reporting Form for Leverage Ratio in UK

PRA published the Policy Statement PS28/18, which provides feedback to responses to the consultation paper CP14/18 titled "UK leverage ratio: Applying the framework to systemic ring-fenced bodies and reflecting the systemic risk buffer."

November 14, 2018 WebPage Regulatory News
News

IASB Could Extend Effective Date for IFRS 17 and IFRS 9 for Insurers

IASB has voted to propose a one-year deferral—to 2022—of the effective date for the new insurance contracts standard IFRS 17. IASB also decided to propose extending to 2022 the temporary exemption for insurers to apply the financial instruments standard IFRS 9.

November 14, 2018 WebPage Regulatory News
News

MAS Amends Notice 637 on Capital Adequacy Requirements in Singapore

MAS published the final, revised Notice 637 on the risk-based capital adequacy requirements in Singapore.

November 13, 2018 WebPage Regulatory News
RESULTS 1 - 10 OF 2219