Regulatory Alerts2004-04-18
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Basel II Gap Analysis and Readiness Assessment
The South African Reserve Bank mandates all domestic banks, foreign bank branches, and mutual banks to conduct a self-assessment of their readiness for implementing the Basel II capital accord. Institutions must utilize standardized templates to evaluate the gap between their current systems and regulatory requirements, submitting the completed assessment by 15 December 2004. The circular outlines a four-step implementation roadmap and requires attendance at an introductory briefing on 5 October 2004 to facilitate compliance and future quantitative impact studies.
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