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Capital Review dual reporting and other changes to bank disclosure statements

We have made changes to New Zealand-incorporated banks' disclosure statements, including adding 'dual reporting'. The changes come into effect on 30 June 2024.

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Consultation outcome

The amendment Order in Council to implement dual reporting and other minor disclosure changes comes into effect on 30 June 2024.

We have published an updated version our ‘working copy’ of the disclosure Order in Council for New Zealand-incorporated registered banks, to incorporate the changes made by the amendment Order. This is available on the following page:

Read the latest ‘working copy’ of the Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2014 here.

A mark-up of the previous version of the working copy shows where the amendments apply:

Read the marked-up ‘working copy’ of the Registered Bank Disclosure Statements (New Zealand Incorporated Registered Banks) Order 2014 (PDF, 914KB)

Consultation feedback

From February to May 2022, we consulted on changes to the information that New Zealand-incorporated registered banks must publish in their six-monthly disclosure statements.

Consultation paper: Capital Review - changes to bank disclosures (PDF, 936KB)

The main changes were to introduce ‘dual reporting’, which was one element of the Capital Review final policy decisions published in December 2019.

See Review of the capital adequacy framework registered banks

In October 2023 we published a summary of the submissions we received on the consultation paper and our final decisions on the policy proposals in light of those submissions.

Submission documents

During October 2023 we consulted on an exposure draft of the amendment Order in Council needed to implement the disclosure changes, as confirmed after the first consultation. We asked for feedback on the drafting details to ensure that the text achieved the intended outcomes in the feedback statement.

The exposure draft also covered some other disclosure changes, relating to recently announced policy changes on connected exposures, mutual capital instruments, and new risk-weight categories for credit risk.

We received one submission suggesting some minor drafting changes, and we have given consideration to these in the final version of the Amending Order that has been made. 

Submission document

ASB submission, PDF 851.23 KB

Consultation documents