On 24 November 2022, the Bank for International Settlements (BIS) published a newsletter on bank exposures to non-bank financial intermediaries.
The newsletter highlights the following:
On 23 November 2021, the Financial Stability Board (FSB) published the 2021 list of global systematically important banks (G-SIBs) using end-2020 data and an assessment methodology designed by the Basel Committee on Banking Supervision (Basel Committee).
FSB member authorities apply the following requirements to G-SIBs:
On 30 July 2021, the Basel Committee on Banking Supervision (Basel Committee) and the World Bank (WB) published a report on an earlier joint global survey that focussed on proportionality in bank regulation and supervision. The survey involved 90 authorities, with a broad distribution across geographical regions and income groups.
The
On 26 November 2020, the Basel Committee on Banking Supervision published a technical amendment ‘Capital treatment of securitisations of non-performing loans’. The technical amendment closes a gap in the Basel framework by setting out prudent and risk sensitive capital requirements for non-performing loan securitisations.
The Basel Committee has agreed to add the following elements
On 11 November 2020, the Financial Stability Board (FSB) issued a press release confirming the 2020 list of global systemically important banks (G-SIBs).
The list of G-SIBs is based on end-2019 data and the updated assessment methodology published by the Basel Committee on Banking Supervision in July 2013.
The overall number
In June 2019 ASIC released its estimates for the Industry Funding levy for the 2018-19 financial year. Further, ASIC and APRA have formally commenced consultation on product intervention powers and product responsibility under the Banking Executive Accountability Regime respectively.
1 July 2019 also marks the commencement date of a variety of new and updated legislation
Norton Rose Fulbright has launched a comparative guide on the state of recovery and resolution laws for banks in Africa. The new interactive guide provides an overview of the bank recovery and resolution requirements applicable to over 20 jurisdictions across Africa.
The online guide allows clients to build their own comparative reports regarding the key
South African asset managers must register as financial service providers (FSPs) with the Financial Services Board (FSB) under the Financial Advisory and Intermediary Services Act (FAIS). Any person carrying on asset management business in South Africa, or from abroad directed at South African clients, whether in a discretionary or non-discretionary
The prescribed rate of interest in South Africa has been changed. With effect from 8 January 2016, interest will be charged at 9.75% per annum, up from the previous rate of 9%.
Interest on debts will be calculated at the repo rate plus 3.5%. The repo rate is determined from time to time by
The Banks Amendment Act came into operation on Monday, 29 June 2015. The Amendment Act looks slightly different to the draft bills that were circulated towards the end of 2014. Input from the Standing Committee on Finance has now been incorporated.
The Amendment Act provides for the curator of a financially distressed bank to create