The Reserve Bank has released a consultation paper detailing proposed changes to the disclosure requirements of New Zealand-registered banks that account for the Basel III changes to capital adequacy. Basel III contains new global regulatory standards for capital adequacy and liquidity in 2010 and the Reserve Bank has consulted on its implementation during 2011 and 2012.
This consultation paper contains two options: to fully implement the Basel Committee's rules or to simply make the necessary updates to existing disclosure requirements. The Reserve Bank proposes to fully implement the new requirements, sets out how banks disclosure requirements would change, and seeks feedback any practical concerns, including the relative costs of the proposed changes.
The consultation paper can be accessed here. Submissions are due by 14 December 2012, with amended disclosure orders proposed to be published by 1 March 2013 and to take effect from 31 March 2013.