Regulatory Alerts2007-01-10
Recognition of Eligible External Credit Assessment Institutions Under the Amended Banks Act, 1990
The South African Reserve Bank has formally recognized Fitch Ratings, Moody's Investors Services, and Standard & Poor's Rating Services as eligible external credit assessment institutions under the amended Banks Act of 1990. This recognition permits banks to utilize their ratings for determining risk weights and calculating regulatory capital requirements under the standardised approach for credit risk and securitisation exposures. The Registrar of Banks requires these agencies to maintain prior written approval, with the approved list subject to periodic review and updates.
Share