Hong Kong Regulations

BANKING (DISCLOSURE) RULES - SECT 11

Consolidated group level disclosures

(1) Subject to subsections (2), (3), (4) and (5), a disclosure made pursuant
to these Rules by an authorized institution applies to the institution on a
consolidated basis whether or not the institution is also required to
calculate its capital adequacy ratio on a solo basis or solo-consolidated
basis pursuant to the Capital Rules.

(2) Subsection (1) does not apply to an authorized institution which is only
required to calculate its capital adequacy ratio on a solo basis pursuant to
the Capital Rules.

(3) Subsection (1) does not operate to prevent an authorized institution from
making a disclosure pursuant to these Rules on a solo basis or
solo-consolidated basis, as the case requires, in addition to a consolidated
basis if the institution reasonably believes that to do so would provide
greater clarity in understanding the institution's state of affairs, profit
and loss or capital adequacy ratio, for persons relying on the disclosures.

(4) Subsection (1) does not apply to disclosures required to be made by an
authorized institution pursuant to any of—

   (a)  sections 19, 20, 21, 22 and 23;

   (b)  sections 25, 26, 27, 28, 29 and 30;

   (c)  sections 34, 35, 36, 37, 38, 39, 40, 41, 42, 43 and 44; or

   (d)  sections 46, 47, 48, 49, 50, 51 and 52.

(5) Subject to subsection (6), a disclosure required to be made by an
authorized institution pursuant to any of the sections set out in subsection
(4)(a), (b), (c) and (d) shall be made on the basis of preparation (whether
fully consolidated or unconsolidated) which the institution believes is most
appropriate for the purposes of providing clarity in understanding the
institution's state of affairs, profit and loss or capital adequacy ratio for
persons relying on the disclosures required by those sections, including
(where appropriate) the basis used by the institution for accounting purposes
for the reporting period to which the disclosure relates.

(6) A disclosure required to be made by an authorized institution pursuant to
any of sections 28, 29, 30, 49, 50 and 51 shall be made on the same basis as
that used by the institution to prepare the return respectively referred to in
those sections.