BANKS ACT & MUTUAL BANKS ACT REGULATIONS: DRAFT DIRECTIVES OUT FOR COMMENT

BANKS ACT & MUTUAL BANKS ACT REGULATIONS: DRAFT DIRECTIVES OUT FOR COMMENT

• 04 December 2024
• Financial Sector
• SA Legal Academy

The Prudential Authority has called for input by 24 and 31 January 2025 on two draft directives.

Issued under the 1990 Banks Act, one draft directive prescribes the procedures to be followed when reporting exposure to equity risk in the banking book. Intended to incorporate revised requirements in respect of the standardised internal ratings-based approach to managing credit risk, the draft directive is the 3rd in the fifth set of proposed amendments to the Banks Act regulatory framework.

Issued under the 1993 Mutual Banks Act, the other draft directive is related to UN ‘Umoja’ administrative reforms.

Please click the links below for more information:

• Banks Act draft directive (input by 31 January 2025)
• associated documents, including comment matrix
• Mutual Banks Act draft directive (input by 24 January 2025)
• ‘Umoja’ reforms

Published by SA Legal Academy Policy Watch

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