Regulatory Alerts2023-11-16
Draft Prudential Standards for Co-operative Financial Institutions and Co-operative Banks
The Prudential Authority of the Reserve Bank of South Africa has published draft Prudential Standards establishing a new proportional regulatory framework for Co-operative Financial Institutions and Co-operative Banks. The proposed standards mandate tiered compliance levels—categorized as basic, intermediary, and advanced—across four key domains: registration and operations, governance, risk management, and financial soundness. Institutions and interested parties are invited to submit feedback on the draft rules and accompanying impact questionnaires via email by 29 February 2024.
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