SARB published the directive D6/2017 specifying additional requirements for submission of applications regarding certain capital issuances and redemptions. The directive aims to clarify information required from banks at the time of submitting such applications, for approval by the Office of the Registrar of Banks. D6/2017 replaces Directive 3/2014 dated September 16, 2014.
D6/2017 applies to all banks, controlling companies, branches of foreign institutions, and auditors of banks or controlling companies. The directive specifies the information or attachments to be included in the applications. It specifies that applications should be submitted "timeously," ahead of the proposed issuances, to enable the review of the nature, extent, and structure of the capital of the applicant bank and all other applicable documentation. In case the application is complete and the Office has been advised of the applicant bank’s capital plan, the application will be considered within six weeks from the date of submission. The directive also stipulates that, within two weeks of finalization of the issuance, redemption, or maturity of capital instruments, banks shall submit the updated main features disclosure template in the Excel format.
Related Link: D6/2017 (PDF)
Previous ArticlePRA Issues Policy Statement on Cyber Insurance Underwriting Risk
BCBS is consulting on the principles for operational resilience and the revisions to the principles for sound management of operational risk for banks.
The Financial Stability Institute (FSI) of BIS published a brief note that examines the supervisory challenges associated with certain temporary regulatory relief measures introduced by BCBS and prudential authorities in response to the COVID-19 pandemic.
HKMA, together with the Banking Sector Small and Medium-Size Enterprise (SME) Lending Coordination Mechanism, announced a ninety-day repayment deferment for trade facilities under the Pre-approved Principal Payment Holiday Scheme.
The Advisory Scientific Committee of ESRB published a response, in the form of an Insights Paper, to the EBA proposals for reforms to the stress testing framework in EU.
MAS announced several initiatives to support adoption of the Singapore Overnight Rate Average (SORA), which is administered by MAS.
BoE updated the reporting template for Form ER as well as the Form ER definitions, which contain guidance on the methodology to be used in calculating annualized interest rates.
PRA published the policy statement PS19/20 on the final policy for extending coverage under the Financial Services Compensation Scheme (FSCS) for Temporary High Balance.
EBA published the final draft implementing technical standards for disclosures and reporting on the minimum requirements for own funds and eligible liabilities (MREL) and the total loss-absorbing capacity (TLAC) requirements in EU.
EBA published an erratum for the phase 2 of technical package on the reporting framework 2.10.
EC published the Implementing Regulation 2020/1145, which lays down technical information for calculation of technical provisions and basic own funds.