Banks Act Regulations have been amended.
National treasury published the amended regulations in Government Gazette 44048.
A new form BA 200 is inserted.
Amendments are introduced to Regulation 23 including a new subregulation (15) on counterparty credit risk exposure and matters related thereto; subregulation (16) on exposure to central counterparties and matters related thereto; subregulation (17) on margin requirements for non-centrally cleared derivative instruments and matters related thereto; subregulation (18) on calculation of counterparty credit exposure or EAD in terms of the standardised approach and subregulation (19) on calculation of counterparty credit exposure in terms of the internal model method.
Regulations 31, 36, 38, 39 and 67 are also amended.
The amended Regulations came into effect on 1 January 2021.
Meanwhile, in Gazette 44003, the auditor-general published an addendum to the Memorandum of Agreement in place with national treasury.
The addendum replaces paragraph (b) of clause 3.2 of the Agreement with the following: “the liquidity ratio of less than 0.5 based on the division of current assets by current liabilities of the auditee for the preceding financial year”.
In Gazette 44031, the South African Reserve Bank (SARB) announced that Caixa Geral De Depósitos S.A. has been granted permission to set up a representative office in South Africa with effect from 9 October 2020.
In Gazette 44048, the SARB announced the cancellation of the registration of Mercantile Bank Limited as a bank with effect from 1 December 2020.
All the assets and liabilities of Mercantile Bank Limited are being transferred to Capitec Bank Limited.