Featured Product

    SARB to Revise Implementation Dates for Final Basel Reforms

    July 09, 2021

    The South African Reserve Bank (SARB) published a guidance note (4/2021) on the proposed revised implementation dates for certain regulatory reforms under Basel III. The guidance note is relevant for banks, controlling companies, branches of foreign institutions, eligible institutions, and auditors of banks or controlling companies. The Prudential Authority is proposing to implement the outstanding regulatory reforms in South Africa on the dates set out in the guidance note. The implementation period spans January 01, 2022 to January 01, 2028, with the output floor requirements being gradually phased-in.

    The proposed revised implementation dates for specified regulatory reforms is as follows:

    • January 01, 2022 for reforms on large exposures framework and total loss-absorbing capacity (TLAC) holdings
    • June 01, 2022 for reforms on interest rate risk in the banking book (IRRBB) and related disclosure requirements
    • July 01, 2022 for revisions to the securitization framework
    • January 01, 2023 for revised frameworks on standardized approach for credit risk, internal ratings based approach, operational risk, and revised exposure definition under leverage ratio framework.
    • January 01, 2024 for minimum capital requirements for market risk and revised credit valuation adjustment framework
    • Implementation of 72.5% of output floor to be phased in over five years commencing from January 01, 2023 until January 01, 2028

     

    Related Links

    Keywords: Middle East and Africa, South Africa, Banking, Regulatory Capital, Basel, Market Risk, Credit Risk, IRRBB, Large Exposures, Output Floor, Implementation Timeline, Operational Risk, Leverage Ratio, COVID-19, Securitization, BCBS, SARB

    Featured Experts
    Related Articles
    News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News
    News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News
    News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News
    News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News
    News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News
    News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News
    News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News
    News

    ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite

    The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.

    December 22, 2022 WebPage Regulatory News
    News

    FCA Sets up ESG Committee, Imposes Penalties, and Issues Other Updates

    The Financial Conduct Authority (FCA) is seeking comments, until December 21, 2022, on the draft guidance for firms to support existing mortgage borrowers.

    December 20, 2022 WebPage Regulatory News
    News

    FSB Reports Assess NBFI Sector and Progress on LIBOR Transition

    The Financial Stability Board (FSB) published a report that assesses progress on the transition from the Interbank Offered Rates, or IBORs, to overnight risk-free rates as well as a report that assesses global trends in the non-bank financial intermediation (NBFI) sector.

    December 20, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8697