Regulatory Alerts2017-11-23
Process for Specific Capital Issuances and Redemptions
The South African Reserve Bank issued Directive D6/2017 to establish standardized application procedures for banks, controlling companies, and foreign branches seeking approval to issue or redeem regulatory capital instruments. The directive mandates that applicants submit comprehensive documentation, including a three-year capital plan, regulatory benchmarking, and executive sign-off, at least six weeks before proposed transactions. It further requires post-transaction disclosure updates within two weeks and formally replaces the previous Directive 3/2014 to ensure consistent capital adequacy oversight.
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