Deciding to impose a requirement


In deciding whether to impose a requirement on a person using the financial stability information power (information requirement) the PRA will:

  1. (1) review the material before it;
  2. (2) consider any representations received from the proposed recipient of an information requirement; and
  3. (3) take into account:
    1. (a) the nature and extent of the risks to financial stability;
    2. (b) whether the information is more readily available from another source, taking into account the likely time and cost implications of seeking information from that source; and
    3. (c) whether the information may assist the PRA in fulfilling its functions, for example if the information relates to the exercise of the PRA’s statutory powers.