Regulatory Alerts2015-07-08
SAMA's Draft Implementation Framework for Banks Comments Concerning BCBS January 2015 Standards Regarding Revised Pillar 3 Disclosure Requirements
The Saudi Arabian Monetary Agency issued a Draft Implementation Framework for all domestic banks subject to Basel III, comprising general and specific guidance notes alongside 42 standardized disclosure templates. This framework establishes a hierarchical disclosure regime that pairs prescriptive quantitative templates with flexible qualitative formats and allows senior management to provide contextual commentary. Banks are required to review the attached guidance and templates, submitting their formal comments by 16 August 2015 to align with the revised Pillar 3 standards.
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