Examples of NZ Branch in a sentence
The consolidated financial statements of ANZ New Zealand comprise the financial statements of the NZ Branch and all the New Zealand businesses of all the subsidiaries of the Ultimate Parent Bank (those entities where it is determined that the Ultimate Parent Bank has capacity to control).
Executive roles included in KMP are the Bank’s Chief Executive Officer (CEO), all executives reporting directly to the Bank’s CEO, and the CEO – NZ Branch.
While RBNZ requires the Ultimate Parent Bank to comply with the minimum capital adequacy requirements as administered by APRA, there are no regulatory capital requirements that apply specifically to the NZ Branch or ANZ New Zealand.MANAGED CAPITALThe Banking Group is subject to its own regulatory capital requirements as administered by RBNZ.
The NZ Branch is not rated by an external ratings agency but the Company has a Standard and Poors rating of AA-.
Payment to holders of insured deposits held in the Registered Bank’s U.S. Branches, administrative expenses of the receiver and secured creditors rank in priority of payment over all other unsecured creditors, including depositors in the Registered Bank’s non-U.S. branches (such as NZ Branch) who would then rank pari passu in order of payment.
The funds are not being raised specifically for the purposes of Rabobank Nederland’s New Zealand branch (“NZ Branch”), although Rabobank Nederland may “on-lend” some of the funds raised to NZ Branch.
The NZ Branch holds 2 portfolios of interest bearing securities and several banking facilities.
During the year ended 30 September 2008, the NZ Branch repatriated $1.3 billion to the Overseas Bank from NZ Branch capital ($698 million) and retained profits ($602 million).
During the year ended 30 September 2005: (a) the NZ Banking Group redeemed all of the NZ Class shares on issue for $618 million; (b) the NZ Banking Group disposed of several subsidiaries which reduced the NZ Banking Group’s outside minority interest by $659 million; and (c) the NZ Branch received $698 million of branch capital from the Overseas Banking Group.
New Zealand (which is incorporated as The Thoracic Society of Australia and New Zealand (NZ Branch) Incorporated).