2004-01-15

Basel II Implementation Timelines and Related Issues

The Registrar of Banks issued Banks Act Circular 20/2004 to establish the implementation schedule for the Basel II capital accord in South Africa. The circular mandates that all banks, branches of foreign banks, and mutual banks must perform parallel calculations against the 1988 Accord during 2007 and complete pilot runs in 2006. Full compliance with Basel II becomes mandatory on 1 January 2008, at which point the previous Basel I framework will no longer be available for use.

South Africa

South African Reserve Bank

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