Regulatory Alerts2006-01-13
South African Reserve Bank: Annual Withdrawal and Retention of Circulars
The South African Reserve Bank issued Banks Act Circular 1/2006 to clarify which administrative directives remain in force following the annual withdrawal of previous circulars. The document lists specific circulars from 1999 to 2005 that are retained in their entirety and reissues essential directives from withdrawn circulars regarding foreign-exchange risk and liquid assets. Banks and their auditors are required to retain copies of these effective circulars and return signed acknowledgements of receipt to the Registrar of Banks.
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