Document ID: chunk:federal_register_of_legislation:C2004A03877:front:0:p5
Version: federal_register_of_legislation:C2004A03877
Segment Type: other
Provision Reference: 
Character Range: 11120–13765

12 months of the year;
    'non-callable deposit ratio' means the percentage specified in a determination.

Base for calculating deposits—eligible assets or eligible liabilities
"18. (1) The Reserve Bank may, by notice in the Gazette, direct that specified assets are eligible assets for the purposes of this Division.
"(2) The Reserve Bank may, by notice in the Gazette, direct that specified liabilities are eligible liabilities for the purposes of this Division.
"(3) The Reserve Bank may, by notice in the Gazette, direct that deposits in Non-callable Deposit Accounts on or after a specified day shall be calculated by reference to whichever of the following is specified:
    (a) eligible assets;
    (b) eligible liabilities.
"(4) The Reserve Bank shall not give a notice under this section except with the approval of the Treasurer.

Daily eligible assets or eligible liabilities of banks—averaging provision
"19. (1) For the purposes of this Division, a bank's eligible assets applicable to each day during each period commencing at the beginning of the third Wednesday in a month and ending at the end of the day before the third Wednesday in the following month shall be taken to be an amount equal to the average of the bank's eligible assets as at the close of business on each Wednesday (other than a Wednesday declared by the Reserve Bank, by notice published in the Gazette, to be a day to which this section does not apply) in the month before the month in which the first-mentioned Wednesday falls.
"(2) For the purposes of this Division, a bank's eligible liabilities applicable to each day during each period commencing at the beginning of the third Wednesday in a month and ending at the end of the day before the third Wednesday in the following month shall be taken to be an amount equal to the average of the bank's eligible liabilities as at the close of business on each Wednesday (other than a Wednesday declared by the Reserve Bank, by notice published in the Gazette, to be a day to which this section does not apply) in the month before the month in which the first-mentioned Wednesday falls.
"(3) Section 22 does not apply to a bank in relation to a particular day during a period commencing at the beginning of the third Wednesday in a month and ending at the end of the day before the third Wednesday in the following month unless the bank was in existence at all times during the month before the month in which the first-mentioned Wednesday falls.
"(4) The regulations may provide that a reference in this section to Wednesday shall be read as a reference to such other day as is prescribed.

Determination of