Regulatory Alerts2015-05-14
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Restructured Credit Exposures
The South African Reserve Bank’s Registrar of Banks has issued Directive 7/2015 to standardize how banks identify, treat, and report restructured credit exposures. The directive defines distressed restructures based on loan arrears and financial distress indicators, mandates impairment assessments under IAS 39 for internal ratings-based banks, and requires specific reporting on form BA 210. It further establishes a mandatory six-month observation period before restructured loans can be reclassified as performing and clarifies acceptable documentation methods for modified terms.
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