Regulatory Alerts2013-07-24
Operational Risk Practices: Completion and Submission of the BA 410 Return
The South African Reserve Bank’s Registrar of Banks issues this guidance to standardize the completion and submission of the six-monthly BA 410 operational risk return for banks, foreign branches, and controlling companies. For line items 1 to 63, institutions must record only pure operational risk losses while excluding boundary events and applying a mandatory R10,000 gross loss reporting threshold. Line items 64 to 75 require the separate identification and description of all material operational risk losses exceeding R5 million, including those stemming from credit or market risk, alongside a signed acknowledgement from the chief executive officer and independent auditors.
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