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    SARB Issues Directive on Submission of Regulatory Return by D-SIBs

    November 28, 2017

    SARB published a directive (D7/2017) that specifies information for submission of regulatory and economic capital information by domestic systemically important banks and controlling companies (D-SIBs) on a biannual basis. The directive also specifies the timelines for submission of the completed regulatory return to the Office of the Registrar of Banks.

    SARB is directing D-SIBs to complete the regulatory return BA 701, which is attached as Annexure A with D7/2017; this is in addition to the submission requirements of BA returns, as specified in regulation 7 of the Regulations related to Banks (Regulations). D-SIBs must complete this regulatory return at a bank solo and a controlling company consolidated level. D7/2017 specifies that data must be submitted biannually based on a calendar year, that is in relation to June 30 and December 31 of each relevant year, by no later than the 60th working day immediately following the relevant required reporting date. For banks or controlling companies with a financial year ending on a date other than June 30 or December 31, the forecast data contained in the form may be the latest available data closest to the financial year-ends of the reporting entity, while the actual data will be the data as at June 30 or December 31, as the case may be. D7/2017 applies to all banks, controlling companies, branches of foreign institutions, eligible institutions, and auditors of banks or controlling companies. 

     

    Related Link: Directive D7/2017

     

    Keywords: Middle East and Africa, South Africa, Banking, D-SIB, Reporting, D7/2017, SARB

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