Regulatory Alerts2024-12-04
C2-2024 Basel III Post-Crisis Reforms Reporting
The South African Reserve Bank’s Draft Circular C2/2024 mandates banks, foreign branches, and controlling companies to calibrate and report the Basel III output floor in compliance with amended Regulations. It establishes a phased implementation starting at 60 percent on 1 July 2025, scaling to a permanent 72.5 percent floor by January 2028, calculated at solo, sub-group, and consolidated levels. The directive replaces Directive 3/2013, requires completion of form BA 610 for foreign operations, and necessitates audited acknowledgment to ensure consistent capital ratio comparability across the banking sector.
Share