Regulatory Alerts2012-12-04
2013 Meetings with Boards of Directors of Banks and Controlling Companies
The South African Reserve Bank’s Office of the Registrar of Banks mandates that all banks and controlling companies prepare for 2013 supervisory meetings focused on three priority topics. Boards of directors must discuss the impact of Basel 2.5 and Basel III regulatory reforms on business strategies, advance Phase 2 recovery planning using reverse stress-testing, and strengthen anti-money laundering and counter-terrorist financing controls across domestic and foreign operations. Institutions are required to submit presentation documents at least two weeks before each meeting and ensure their recovery plans are practical, group-wide, and fully integrated into their risk management frameworks.
Share