Regulatory Alerts2006-01-10
Revision of the Basel Core Principles for Effective Banking Supervision
The South African Reserve Bank issued Banks Act Circular 3/2006 to notify reporting banks of the Basel Committee's updated Core Principles for Effective Banking Supervision and its associated Methodology. Institutions must submit direct comments to the Registrar of Banks by May 26, 2006, enabling consolidated feedback for submission to the Basel Committee. The circular further requires that the enclosed acknowledgement of receipt be completed and returned with signatures from both the chief executive officer and independent auditors.
Share