Regulatory Alerts2020-12-28
Added · Updated
CB Circular No. 31/2020 – 2021 Calendar for Submission of Returns
The Bank of Zambia issued this circular to establish the official 2021 submission deadlines for commercial banks regarding prudential, Basel II capital adequacy, ICAAP, credit market monitoring, quarterly financial statements, and bank charges returns. All monthly prudential and credit market monitoring returns must be filed through the Bank Supervision Application System, while quarterly financial statements require prior regulatory approval and specific formatting. The directive enforces daily penalties of K500 for delayed or incorrect monthly submissions and K1,500 for quarterly financial statement failures, non-approval, or incorrect publication.
BANK of ZAMBIA
OFFICE OF THE DEPUTY GOVERNOR - OPERATIONS
BOZ/EXEC/DGO/bsd/bp
December 28, 2020
CB Circular No.: 31/2020
To: All Heads of Commercial Banks
CALENDAR FOR SUBMISSION OF PRUDENTIAL RETURNS, BASEL II PILLAR 1 CAPITAL ADEQUACY RETURNS, INTERNAL CAPITAL ADEQUACY ASSESSMENT DOCUMENTS, CREDIT MARKET MONITORING PROGRAM RETURNS, QUARTERLY FINANCIAL STATEMENTS AND BANK CHARGES FOR PERSONAL, CURRENT ACCOUNTS AND OTHER SERVICES
Further to CB Circular No. 01 of 1998 and CB Circular No. 04 of 2000, please be informed that the due dates for submission of the various regulatory returns for 2021 are as follows:
PRUDENTIAL RETURNS AND QUARTERLY CREDIT MARKET MONITORING RETURNS
| Month | Due Date |
|---|---|
| January | 10 February 2021 |
| February | 11 March 2021 |
| March | 14 April 2021 |
| April | 12 May 2021 |
| May | 10 June 2021 |
| June | 14 July 2021 |
| July | 12 August 2021 |
| August | 10 September 2021 |
| September | 12 October 2021 |
| October | 10 November 2021 |
| November | 10 December 2021 |
| December | 12 January 2022 |
BASEL II PILLAR 1 CAPITAL ADEQUACY RETURNS
| Month | Due Date |
|---|---|
| January | 17 February 2021 |
| February | 18 March 2021 |
| March | 14 April 2021 |
| April | 21 May 2021 |
| May | 17 June 2021 |
| June | 21 July 2021 |
| July | 19 August 2021 |
| August | 17 September 2021 |
| September | 19 October 2021 |
| October | 17 November 2021 |
| November | 19 December 2021 |
| December | 19 January 2022 |
INTERNAL CAPITAL ADEQUACY ASSESSMENT (ICAAP) DOCUMENTS
The ICAAP documents for the year ended December 31, 2020 are to be submitted by September 30, 2021.
QUARTERLY FINANCIAL STATEMENTS AND BANK CHARGES
| Quarter | Due Date |
|---|---|
| 1st Quarter | 14 April 2021 |
| 2nd Quarter | 14 July 2021 |
| 3rd Quarter | 12 October 2021 |
| 4th Quarter | 12 January 2022 |
The Monthly Prudential Returns and Credit Market Monitoring Program (CMMP) Returns should be submitted through the Bank Supervision Application System via https://bsa.boz.zm/bsa while a soft copy of the Bank Charges Returns should be submitted to banksupervision@boz.zm.
A penalty of K500.00 per return per day will be charged for any delayed submissions or incorrect Returns.
In case of Quarterly Financial Statements, a penalty of K1,500.00 per return per day shall be incurred in any of the following circumstances:
- Failure to submit the quarterly financial statements;
- Failure to obtain Bank of Zambia approval prior to publication;
- Publication of financial statements using incorrect formats; and
- Publication of incorrect information.
Francis Chipimo (PhD)
DEPUTY GOVERNOR – OPERATIONS
Bank Square, Cairo Road, P.O. Box 30080, Lusaka, Zambia
Tel: +260-211-399303, 399300
E-mail: dgo@boz.zm
Web: http://www.boz.zm
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