Regulatory Alerts2015-09-16
Added · Updated
Provision of a Committed Liquidity Facility by the South African Reserve Bank
The South African Reserve Bank has issued Guidance Note G5/2015 to establish a committed liquidity facility that enables banks to maintain compliance with the Liquidity Coverage Ratio. The facility caps eligible funding at forty percent of a bank's projected high-quality liquid assets, mandates specific collateral and special purpose institution reporting, and applies a scaled commitment fee based on utilization. Banks must submit annual applications by July or September, lodge eligible collateral subject to haircuts, and obtain internal audit sign-offs to access drawdown at the repo rate plus one hundred basis points.
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