TREASURY MANAGEMENT POLICY
APPENDICES
Appendix 1 - Approved Counterparties
The University's approved counterparties, their long-term credit ratings, and their associated exposure
limits are:
Standard & Standard & Moody's
Moody's
Exposure
Poors
Poors longshortlong-term
Limit as
Counterparty
short-term
term credit
term
credit rating
a % of
credit
rating
credit
Total
rating
rating
Funds
ANZ Bank NZ Limited
A-1+
AA-
P-1
Aa3
0 - 40%
ASB Bank Limited
A-1+
AA-
P-1
Aa3
0 - 40%
Bank of New Zealand
A-1+
AA-
P-1
Aa3
0 - 40%
Commonwealth Bank of
Australia
A-1+
AA-
P-1
Aa2
0 - 40%
Rabobank
A-1+
AA
P-1
Aa2
0 - 40%
Westpac Banking Corporation
A-1+
AA-
P-1
Aa3
0 - 40%
Western Union
A-2
BBB
P-2
Baa2
0 - 40%
Appendix 2 - Bank Accounts
The schedule of bank accounts held by the University and its subsidiaries, as approved by the ViceChancellor, is provided below.
Counterparty
Account Type
Current Accounts
ASB Bank Limited
Current Account - University
ASB Bank Limited
Current Account - Foundation
ASB Bank Limited
Current Account - WaikatoLink
ASB Bank Limited
Current Account – iEngagEd Ltd
ASB Bank Limited
Business Saver Account - University
ASB Bank Limited
Business Saver Account - Foundation
ASB Bank Limited
Business Saver Account - WaikatoLink
ASB Bank Limited
Current AUD Account - University
ASB Bank Limited
Current EUR Account - University
ASB Bank Limited
Current GBP Account - University
ASB Bank Limited
Current JPY Account - University
ASB Bank Limited
Current USD Account - University
ASB Bank Limited
Current USD Account - WaikatoLink
ASB Bank Limited
Current USD Account - US Federal Funds
Commonwealth Bank of Australia
Business Cheque Account
Commonwealth Bank of Australia
Business Transaction Account
Foreign Currency Transacting Accounts
Western Union
Foreign Currency Transacting-University
Call Accounts
ANZ Bank NZ Limited
Call Account - University
ASB Bank Limited
Call Account - University
Bank of New Zealand
Call Account - University
Westpac Banking Corporation
Call Account - University
Term Deposits
ANZ Bank NZ Limited
Term Deposit - University
ASB Bank Limited
Term Deposit - University
ASB Bank Limited
Term Deposit - Foundation
Bank of New Zealand
Term Deposit - University
Westpac Banking Corporation
Term Deposit - University
At its own discretion, each bank typically opens a new bank account for the University upon the deposit
of short term funds.
Appendix 3 - Approved bank account signatories
Holders of the following positions are approved as bank account signatories:
Title
Chief Financial Officer
Manager, Financial Management
Project and Financial Information Manager
Accountant/Financial Advisor
Appendix 4 - Approved bank account signatories for electronic payroll authorisations only
Holders of the following positions are approved as bank account signatories for electronic payroll
authorisations only:
Title
Director of Human Resource Management
Human Resources Manager
Appendix 5 - Delegated Authority Framework
Activity
Delegated Authority
Banking
Opening new bank account
Vice-Chancellor
Closing existing bank account
Vice-Chancellor
Assigning & removing signatory
Vice-Chancellor
status
Establishing new credit card
Chief Financial Officer
facilities
Financial Instruments and Financial Arrangements
Audit and Risk
Approval of financial instruments
Committee
Approval of short-term investment
Vice-Chancellor
of funds over NZ$ 10,000,000
Approval of short-term investment
Chief Financial Officer
of funds up to NZ$ 10,000,000
Parameters
Public Finance Act 1989
Must be an approved counterparty
Council to be notified at next meeting
Council to be notified at next meeting
Must be an approved counterparty
Public Finance Act 1989
Must be an approved counterparty
Must be an approved counterparty
Must be a major NZ trading bank
Must be an approved counterparty
Must be a major NZ trading bank
Public Finance Act 1989
Must be an approved counterparty
Approval of financial arrangements
Chief Financial Officer
Interest Rate Risk Management
Establishing debt arrangements
Liquidity Risk Management
Council
Setting of funding requirements
Audit and Risk
Committee
Foreign Exchange Risk Management
Hedging of foreign currency
expenses and receipts over
NZ$ 50,000
Credit Risk Management
Chief Financial Officer
Public Finance Act 1989
Must be an approved counterparty
Approval of counterparties
Audit and Risk
Committee
Minimum Standard and Poors shortterm credit rating of A-2 or long-term
credit rating of A+, or equivalent
Minimum Moody's Investors’ ratings
Setting of counterparty exposure
limits
Audit and Risk
Committee
Must be an approved counterparty
Appendix 6 - Approved Financial Instruments
The University's approved financial instruments and their associated maximum maturity are:
Instrument
Maximum Maturity
Bank Bills
90 days
Bank Deposits
5 years
New Zealand Government Stock
5 years