Extension of Submission Dates for Credit Risk and Large Exposure Returns

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BANKING INSTITUTIONS ACT

CIRCULAR – BIA 3/00

TO: ALL BANKING INSTITUTIONS

DATE: 29 SEPTEMBER 2000

EXTENSION OF DATE OF SUBMISSION OF THE CREDIT RISK RETURN AND LARGE EXPOSURE RETURN

1. BACKGROUND

This Circular supercedes Circular BIA 1/00 issued on 31 May 2000 and is issued mainly for the purpose of granting extension for the date of submission to the Bank of the Credit Risk Return (BIR 500) and Large Exposure Return, Annexure A (BID-4).

At a meeting the Bankers’ Association and the Governor of the Bank that was held on 11 July 2000, the Bankers’ Association expressed concern on the changing of the frequency of the returns stipulated in Circular BIA 1/00 from quarterly to monthly. The concern of the Bankers’ Association was that the process of compiling the credit risk return was very time consuming. This circular therefore, is issued to address that concern and to implement the decisions of the said meeting.

2. CREDIT RISK RETURN (BIR 500)

This return shall be submitted within 26 days of the end of each calendar quarter effective retrospectively from the quarter ended 30 June 2000.

3. LARGE EXPOSURE RETURN, ANNEXURE A (BID-4)

The submission date of the Large Exposure Return, Annexure A (Bid-4) shall be extended from 21 days of the end of each calendar quarter to 26 days of the end of each calendar quarter, effective retrospectively from the quarter ended 30 June 2000.

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4. Two additional copies of this Circular are enclosed for the use of your institution’s independent auditors. The attached “Acknowledgement of Receipt” duly completed and co-signed by the said auditors, should be returned to this Office at the earliest convenience.

L S IPANGELWA DEPUTY GOVERNOR