Regulatory Alerts2014-02-13
G3/2014: Effective Risk Data Aggregation and Risk Reporting
The South African Reserve Bank mandates that all domestic banks and foreign branches adopt the Basel Committee’s Principles for Effective Risk Data Aggregation and Risk Reporting to strengthen governance, data architecture, and reporting capabilities. Institutions must submit a comprehensive self-assessment questionnaire by 30 April 2014 to evaluate their current compliance status and outline implementation roadmaps for achieving full adherence by 1 January 2017. Supervisors will review these submissions to potentially adjust compliance deadlines on a case-by-case basis, ensuring that enhanced risk data practices improve institutional decision-making and resolvability.
Share