Featured Product

    SARB Proposes Implementation Dates for Certain Basel III Regulations

    November 25, 2019

    SARB published a guidance note (6/2019) on the proposed implementation dates in respect of certain regulatory reforms under Basel III. The guidance note has been issued to all banks, controlling companies, branches of foreign institutions, and auditors of banks or controlling companies. Based on, among others, industry comments, quantitative impact studies, and progress by the BCBS member jurisdictions to implement the reforms and matters related to implementation complexity, the Prudential Authority is proposing to implement the outstanding regulatory reforms in South Africa on the dates set out in the guidance notes.

    On May 03, 2019, the Prudential Authority proposed a directive related to the second set in a series of proposed amendments to the Regulations relating to Banks. The second set in the series of proposed amendments incorporates the following BCBS frameworks for implementation:

    • The standardized approach for measuring counterparty credit risk exposures (SA-CCR)
    • A capital standard for bank exposures to central counterparties (CCPs)
    • Capital requirements for banks’ equity investments in funds

    Based on the comments and proposal received and the outcome of the subsequent discussions held, it has been decided to revise the proposed implementation dates in South Africa for specified regulatory reforms as follows:

    • Capital Requirements for Equity Investments in Funds
    • Capital Requirements for Bank Exposures to CCPs
    • SA-CCR

    October 01, 2020

    Interest Rate Risk in the Banking Book (IRRBB)

    June 01, 2022

    • Minimum Capital Requirements for Market Risk
    • Revised Standardized Approach for Credit Risk Framework
    • Revised Internal Ratings Based Approach Framework
    • Revised Credit Valuation Adjustment Framework
    • Revised Operational Risk Framework
    • Leverage Ratio—Revised Exposure Definition

    January 01, 2023

    Output Floor

    January 01, 2022: 50%

    January 01, 2023: 55%

    January 01, 2024: 60%

    January 01, 2025: 65%

    January 01, 2026: 70%

    January 01, 2027: 72.5%

    • Revisions to the Securitization Framework
    • Total Loss Absorbing Capacity Holdings
    • Large Exposures Framework

    January 01, 2021

     

    Amendments to Regulations are promulgated by Minister of Finance in terms of Section 90 of the Banks Act 1990, for implementation, only when the National Treasury and the Minister of Finance, at a minimum, have concluded their own respective processes related to, for example, the consideration of any relevant proposed amendments to legislation. Additionally, amendments to the regulations are promulgated, for implementation, when the National Treasury and the Minister of Finance are satisfied that a sufficiently robust consultation process has been followed in respect of the said proposed amendments to legislation.

     

    Related Link: Guidance Note

    Keywords: Middle East and Africa, South Africa, Banking, Capital Requirements, SA-CCR, Basel III, Implementation Dates, Market Risk, Credit Risk, IRRBB, Large Exposures, Output Floor, BCBS, SARB

    Featured Experts
    Related Articles
    News

    EBA Publishes Final Regulatory Standards on STS Securitizations

    The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.

    September 20, 2022 WebPage Regulatory News
    News

    ECB Further Reviews Costs and Benefits Associated with IReF

    The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.

    September 15, 2022 WebPage Regulatory News
    News

    EBA Publishes Funding Plans Report, Receives EMAS Certification

    The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).

    September 15, 2022 WebPage Regulatory News
    News

    MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures

    The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.

    September 15, 2022 WebPage Regulatory News
    News

    BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules

    The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.

    September 15, 2022 WebPage Regulatory News
    News

    IOSCO Welcomes Work on Sustainability-Related Corporate Reporting

    The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)

    September 15, 2022 WebPage Regulatory News
    News

    BoE Allows One-Day Delay in Statistical Data Submissions by Banks

    The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.

    September 14, 2022 WebPage Regulatory News
    News

    ACPR Amends Reporting Module Timelines Under EBA Framework 3.2

    The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.

    September 14, 2022 WebPage Regulatory News
    News

    ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies

    The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)

    September 13, 2022 WebPage Regulatory News
    News

    APRA to Modernize Prudential Architecture, Reduces Liquidity Facility

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.

    September 12, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8514