Regulatory Alerts2015-02-04
D1/2015: Minimum Requirements for Recovery Plans of Banks, Controlling Companies and Foreign Branches
The South African Reserve Bank’s Office of the Registrar of Banks has issued Directive D1/2015 to specify minimum requirements for the recovery plans of banks, controlling companies, and foreign branches. The directive mandates that these plans include robust governance structures, clearly defined quantitative and qualitative triggers, calibrated stress scenarios, and actionable recovery options tailored to each institution’s risk profile. Replacing earlier guidance notes, it requires systemically important banking groups to maintain group-wide recovery plans while ensuring all covered institutions develop practical, specific frameworks that minimize taxpayer costs and preserve financial stability during severe stress.
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