Regulatory Alerts2012-07-10
Basel III Parallel Test Run: Reporting Requirements for Amended Regulatory BA Forms
The Office of the Registrar of Banks at the South African Reserve Bank mandates all registered banks and controlling companies to conduct a parallel test run of amended regulatory BA forms to prepare for the Basel III framework implementation on 1 January 2013. Institutions must submit validated data via the SARBDEX interface according to a strict schedule, with initial September 2012 data due by 12 November 2012 and subsequent monthly submissions extending into February 2013, alongside mandatory daily reporting for form BA 325 in September and October. The regulator will provide amended forms, validation rules, and a dedicated training session in October 2012, while requiring signed acknowledgements of receipt from chief executives and independent auditors to confirm institutional preparedness.