Guidance Note 1 of 2026 on the Status of Previously Issued Guidance Notes

P O Box 427 Pretoria 0001 South Africa
370 Helen Joseph Street Pretoria 0002
+27 12 313 3911 / 0861 12 7272 www.resbank.co.za 1 Ref.: 15/8/1/2 G1/2026 To: All banks, branches of foreign institutions, controlling companies, eligible institutions and auditors of banks or controlling companies Guidance Note issued in terms of section 6(5) of the Banks Act, 1990 (Act No. 94 of 1990) Status of previously issued guidance notes Executive summary Banks Act Guidance Note 1/2008 dated 7 May 2008 established the process whereby banks (including branches of foreign institutions), controlling companies and auditors of banks or controlling companies are informed of the status of previously issued guidance notes. To ensure that banks (including branches of foreign institutions), controlling companies, and auditors of banks or controlling companies are fully aware of which previously issued guidance notes remain in effect, the first guidance note of a particular year will serve as a notification to all institutions, indicating which previously issued guidance notes remain effective for the ensuing year.

1. Introduction
   1.1 All previously issued guidance notes are deemed to be withdrawn, terminated or
   replaced, except if such a guidance note is to remain effective and is then accordingly confirmed in Guidance Note 1 of that year. The guidance notes that remain effective will retain their original numbers and dates.
2. Effective guidance notes
   The guidance notes listed below remain effective. Accordingly, banks, controlling companies, eligible institutions and auditors of a bank or controlling company are hereby requested to retain copies of these guidance notes. Guidance Note Brief details
   2.1 Banks Act Guidance Note 1/2008 Status of previously issued guidance notes
   2.2 Banks Act Guidance Note 2/2008 Position statement on personal account trading
   2.3 Banks Act Guidance Note 5/2008 Electronic communications with the office

2
2.4 Banks Act Guidance Note 7/2008 Development programme for directors of
banks
2.5 Banks Act Guidance Note 8/2008 Financial Action Task Force’s call for enhanced
scrutiny of transactions within certain jurisdictions, and United Nations sanctions in relation to proliferation of weapons of mass destruction
2.6 Banks Act Guidance Note 9/2008 Stress testing
2.7 Banks Act Guidance Note 3/2010 Performing market risk hypothetical back-testing
by internal models approach (IMA) banks
2.8 Banks Act Guidance Note 3/2011 Covered bonds
2.9 Banks Act Guidance Note 5/2013 Foreign exchange settlement risk
2.10 Banks Act Guidance Note 3/2014 Effective risk data aggregation and risk
reporting
2.11 Banks Act Guidance Note 4/2014 Application process in respect of the proposed
adoption of the internal ratings-based approach for the measurement of banks’ credit risk exposure in respect of positions held in the banking book
2.12 Banks Act Guidance Note 5/2014 Outsourcing of functions within banks
2.13 Banks Act Guidance Note 4/2015 This guidance note outlines Expectations of the
Bank Supervision Department (BSD) of the
South African Reserve Bank (the Bank) with respect to the internal capital adequacy assessment process (ICAAP) of banks, controlling companies and branches of foreign institutions – hereinafter referred to as ‘banks’
2.14 Banks Act Guidance Note 3/2016 Credit risk and accounting for expected credit
losses
2.15 Banks Act Guidance Note 4/2016 Instruments qualifying as high-quality liquid
assets
2.16 Banks Act Guidance Note 5/2016 Corporate governance principles for banks
2.17 Banks Act Guidance Note 7/2016 Capital arbitrage transactions
2.18 Banks Act Guidance Note 3/2017 Audit implications of the expected credit loss
model for the auditors of banks
2.19 Banks Act Guidance Note 5/2018 Cloud computing and the offshoring of data

3
2.20 Banks Act Guidance Note 8/2020 Continued provision of a committed liquidity
facility and the introduction of a restricted-use committed liquidity facility by the South African Reserve Bank
2.21 Banks Act Guidance Note 5/2022 Supervisory guidelines for matters related to the
prevention of banks or controlling companies being used for any money laundering or other unlawful activity (Effective implementation of group controls)
2.22 Banks Act Guidance Note 6/2022 Supervisory guidelines for matters related to the
prevention of banks or controlling companies being used for any money laundering or other unlawful activity (Business risk assessment)
2.23 Banks Act Guidance Note 7/2022 Guidelines for matters related to the prevention
of banks or controlling companies being used for any money laundering or other unlawful activity in respect of correspondent banking relationships
2.24 Banks Act Guidance Note 9/2022 Matters related to the credit risk models of banks
using the internal ratings-based (IRB) approach (IRB banks) to calculate minimum required capital and reserve funds for their credit risk exposures
2.25 Banks Act Guidance Note 10/2022 Supervisory guidelines for matters related to the
prevention of banks or controlling companies being used for any money laundering, terrorist financing or other unlawful activity
2.26 Banks Act Guidance Note 12/2022 Guidelines related to risk management practices
concerning proliferation financing risk
2.27 Banks Act Guidance Note 4/2023 Matters on the use of terrorist financing or other
unlawful activity
2.28 Banks Act Guidance Note 2/2024 Guidance no climate-related governance and
risk practices for banks
2.29 Banks Act Guidance Note 4/2024 Criteria for identifying outlier banks in relation to
interest rate risk in the banking book
2.30 Banks Act Guidance Note 5/2024 Supervisory guidance for matters related to
business risk assessment and assessment for money laundering, terrorist financing and other unlawful activities
2.31 Banks Act Guidance Note 2/2025 Guidance on the internal ratings-based
approach for credit risk

4
2.32 Banks Act Guidance Note 3/2025 Guidance on climate-related disclosures for
banks
3. Acknowledgement of receipt
3.1 Kindly ensure that a copy of this guidance note is made available to your institution’s
auditors. The attached acknowledgement of receipt, duly completed and signed by both the Chief Executive Officer of the institution and the said auditors, must be returned to the PA at the earliest convenience of the aforementioned signatories. Fundi Tshazibana Chief Executive Officer Date:
The previous guidance note issued was Guidance Note 3/2025 dated 7 October 2025.