Regulatory Alerts2006-01-11
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Endorsement of Revised Core Principles for Effective Banking Supervision
The South African Reserve Bank endorses the Basel Committee’s revised Core Principles for Effective Banking Supervision, requiring all banks and their stakeholders to align with the updated 25 principles that strengthen risk management, corporate governance, and cross-border supervision. The updated framework refines assessment methodologies, emphasizes supervisory independence and transparency, and mandates full compliance as a matter of urgency. The Registrar of Banks further requires institutions to return a signed acknowledgement of receipt from their chief executive officers and independent auditors.
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