Regulatory Alerts2011-08-05
G4/2011: Parallel Reporting on Amended Regulatory Forms
The South African Reserve Bank’s Bank Supervision Department has issued Guidance Note 4/2011 to mandate a parallel test run of amended regulatory reporting forms ahead of the 1 January 2012 Basel II enhancements. All registered banks, foreign branches, and controlling companies must submit parallel data via the SARBDEX interface for September through December 2011 according to specified monthly and daily deadlines. Institutions must also return a signed acknowledgement of receipt from their chief executive officer and independent auditors to confirm compliance with the new validation rules.
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