Home  »  Articles   »   Comment Sought on Draft Banks Act Regulations

Comment Sought on Draft Banks Act Regulations

August 16, 2019

National Treasury

16 August 2019

Comment is sought on proposed amendments to Banks Act Regulations.

National treasury published the call for comment in Government Gazette 42634.

The draft regulations were drawn up in terms of Section 90 of the Banks Act.

According to the notice, the draft amendments are designed to ensure that the “legal framework for the regulation and supervision of banks and banking groups in South Africa remains relevant and current…”.

Amendments are proposed, inter alia, to Regulation 23(15) to amend enabling provisions on the measurement of counterparty credit risk exposures and to insert Regulation 23(16) on banks’ exposures to central counterparties; Regulation 23(18) on exposure to central counterparties; Form BA 200 on banks’ exposures to counterparty credit risk and Regulations 31(6) and 31(7) on Basel Committee requirements in respect of banks’ equity investments in funds.

Comment is invited until 30 August 2019.