Regulatory Alerts2013-07-25
G5/2013: Foreign Exchange Settlement Risk
The South African Reserve Bank issued Guidance Note 5/2013 to require banks to incorporate international best practices for managing foreign exchange settlement risk into their governance and risk management frameworks. This directive aligns local supervisory expectations with the February 2013 principles released by the Basel Committee on Banking Supervision. Banks are mandated to assess their current policies against these guidelines and return signed acknowledgements of receipt to the Registrar of Banks.
Share