The Prudential Authority has called for input by 19 July 2024 on a revised draft directive intended to replace one issued in May 2017 dealing with restructured credit exposure identification requirements and their treatment.

The revised directive reflects some of the comments received on proposals released in October 2023.

Once finalised and in force, the replacement directive will:

  • specify ‘minimum requirements relating to the definition and reporting of distressed restructured credit exposures’, and
  • clarify the interpretation of Banks Act, 1990, Regulation 67 (the treatment of minority interests), which is aligned to international financial reporting standards.

Please click the links below for more information:

  • draft replacement directive
  • summary of input received on November 2023 draft
  • proposed ‘distressed restructure decision tree’
  • May 2015 directive

Published by SA Legal Academy Policy Watch

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