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BANKING INDUSTRY: DRAFT LOSS ABSORBENCY REQUIREMENTS DIRECTIVE OUT FOR COMMENT
- 02 April 2024
- Financial Sector
- SA Legal Academy
The Prudential Authority has called for input by 29 April 2024 on a draft directive prescribing more requirements to be met by banks in the context of Tier 1 and 2 capital instrument loss absorbency and related trigger events. Once finalised, the new directive will replace a guidance note in force since August 2017.
Underpinned by Basel III framework requirements for recognition as additional Tier 1 and Tier 2 capital instruments, the proposed new directive will augment existing regulatory obligations.
- draft directive
- 2017 guidance note (to be replaced)
Published by SA Legal Academy Policy Watch
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