SARB Publishes Directive on Specific Capital Issuances and Redemptions
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)
Keywords: Middle East and Africa, South Africa, Banking, Capital Issuances and Redemptions, SARB
Previous Article
IMF Issues Reports Under 2019 Article IV Consultation with IndonesiaRelated Articles
OSFI Issues Phase2 Consultation on Climate Scenario Exercise for Banks
The Office of the Superintendent of Financial Institutions (OSFI) recently announced a consultation on the second phase of the Standardized Climate Scenario Exercise (SCSE) for banks and other financial institutions it regulates in Canada.
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.