Regulatory Alerts2011-03-08
C2/11: Eligible Institutions Approved by the Registrar of Banks
The South African Reserve Bank’s Registrar of Banks issued Circular C2/11 to confirm Fitch Ratings, Moody’s Investors Service, and Standard & Poor’s Rating Services as approved eligible credit assessment institutions. Banks, controlling companies, and foreign branches must apply these agencies' ratings when calculating minimum required capital and reserve funds for credit risk under prescribed standardised methods. This directive replaces Circular 7/2007 and mandates that all credit assessments used for capital calculations originate from Registrar-approved institutions or compliant export credit agencies.
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