Regulatory Alerts2022-12-28
Guidance Note on the Scope of Application of SAMA’s Basel Framework
The Saudi Central Bank (SAMA) issued this guidance note to clarify the scope of application for its Basel Framework and corresponding reporting requirements for local banks. The document mandates that banks comply with the framework at both standalone and consolidated levels, including all majority-owned financial subsidiaries while excluding insurance entities. It further specifies that Pillar 2 supervisory reviews and Pillar 3 disclosures must be conducted on a consolidated basis, with banks required to submit separate prudential returns for both levels.
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