Regulatory Alerts2015-12-09
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C8/2015: Countercyclical capital buffer for South Africa based on the Basel III framework
The Office of the Registrar of Banks issued Circular 8/2015 to implement the countercyclical capital buffer in South Africa under the Basel III framework. The circular mandates that the buffer rate range between 0 and 2.5 percent of risk-weighted assets, calculated as a weighted average of buffers in jurisdictions with private sector credit exposures. It further establishes reporting requirements on forms BA 700 and BA 610 and designates the credit-to-GDP gap as the primary indicator for activating or releasing the buffer.
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