Regulatory Alerts2012-02-13
Regulations Relating to Banks and Related Matters
The South African Reserve Bank’s Bank Supervision Department has enacted Basel 2.5 amendments and launched a formal amendment process to integrate Basel III standards into South Africa’s banking regulatory framework. The department will release a draft of the proposed Basel III regulations for comment in March 2012, establishing minimum capital and risk coverage requirements that will be phased in starting January 2013. Banks, foreign branches, controlling companies, and auditors must return signed acknowledgements of receipt to the Registrar of Banks while subsequent circulars will provide ongoing implementation guidance.
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