RBNZ is consulting on changes to the disclosure requirements for registered banks and comments are due by January 12, 2018. RBNZ also confirmed the previously signaled policy decision on the Dashboard approach for quarterly disclosures for locally incorporated banks. Work to implement the Dashboard has commenced and RBNZ aims to publish the first dashboard in late May 2018, with data from the first quarter of 2018.
Along with the implementation work on the Dashboard, RBNZ needs to make changes to the existing registered bank disclosure requirements, to take effect at the same time as the Dashboard. These changes include the removal of the requirement for off-quarter disclosure statements. The proposed changes also include a number of other improvements confirmed during the Regulatory Stocktake. RBNZ is, therefore, consulting on changes to the disclosure Orders in Council. The changes would be made by Amending Orders and they take effect from March 31, 2018.
- Consultation on Updates to Registered Bank Disclosures Arising from Stocktake (PDF)
- Disclosure Order for New Zealand Banks: Red-Lined with Proposed Changes (PDF)
- Disclosure Order for Branches of Overseas Banks: Red-Lined with Proposed Changes (PDF)
Comment Due Date: January 12, 2018
Effective Date: March 31, 2018
Keywords: Asia Pacific, New Zealand, Banking, Reporting, Quarterly Disclosures, Dashboard, Regulatory Stocktake, RBNZ
Previous ArticleCIRC Notice on Interim Measures for Supervision of Credit Insurance
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
PRA published the policy statement PS19/20 on the final policy for extending coverage under the Financial Services Compensation Scheme (FSCS) for Temporary High Balance.
EBA published the final draft implementing technical standards for disclosures and reporting on the minimum requirements for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC) requirements in EU.
EBA published an erratum for the phase 2 of technical package on the reporting framework 2.10.
EC published the Implementing Regulation 2020/1145, which lays down technical information for calculation of technical provisions and basic own funds.