south_africa_map

Regulators in South Africa

The Republic of South Africa’s financial sector is supervised by six bodies:

  • The Department of Trade and Industry
  • South African Reserve Bank (SARB)
  • Financial Services Board (FSB)
  • JSE Securities Exchange (JSE)
  • Financial Intelligence Centre (FIC)
  • National Credit Regulator (NCR)

Regulatory Environment — South Africa

StatutoryPrudentialStatisticalTransactional
Financial returns reporting Declaration of returns reporting Interest rate statistics Direct reporting
Basel II reporting Balance sheet statistics
Liquidity reporting Locational banking statistics
Large exposure reporting Securitisation reports

Statutory

Financial returns reporting
Financial reports are based on International Financial Reporting Standards (IFRS) and are required on a monthly basis (consolidated) and quarterly basis (non- consolidated). These reports provide details on balance sheet concerning assets, liabilities and equity reserves (BA100), off balance sheet activities or exposures (BA110) and income statement including information on all incomes and expenses and taxation (BA 120). Also included are returns regarding shareholders of a bank/controlling company (BA 125) and investments, loans and advances (BA 130).

Prudential

Declaration of returns reporting
Form BA 099 and BA 099A cover declaration of statutory returns to be submitted on solo and consolidated basis. These reports are not prescribed financial returns, but are used as a control sheet to furnish the required declarations regarding compliance and the maintenance of prescribed minimum balances. The South African Reserve Bank (SARB) as a regulator requires these reports on an on demand basis as measures of control.

Basel II reporting
These reports are generally based on risk reporting and include information on credit risk, market risk and operational risk, which are required to be reported on monthly, quarterly and semi-annual basis. In addition it includes quarterly consolidated returns on minimum capital requirements and group capital solvency risk details (BA700).

Liquidity reporting
These are monthly returns concerning liquidity risk (BA 300) set to determine the liquidity position of banks through balance sheet mismatch, stress testing of banks, exposure related to foreign transactions etc. Additional requirements are included, these being returns concerning minimum reserve balances and liquid assets (BA310).

Large exposures reporting
These reports are required to be submitted on quarterly basis if the sum of exposures to a third party or a group of connected third parties exceeds 25 per cent of a bank's adjusted allocated capital (BA600).

Statistical

Interest rate statistics
These reports cover data of interest rates on deposits, loans and advances (BA930) and the interest rate risk associated with the banking book to be submitted on monthly basis (BA330)

Balance sheet statistics
These are monthly returns on institutional and maturity breakdown of liabilities and assets collected for economic statistics purposes (BA900).

Locational banking statistics
These are quarterly returns concerning locational banking statistics based on nationality (BA950) of banks and residence (BA940).These reports cover information on the international claims and liabilities of the banking sector broken down by residence and nationality of banks.

Securitisation reports
These reports cover information related to securitization (process promoting liquidity in the market) schemes and related exposures (BA500). These reports are required to be submitted on monthly basis.

Transactional

Direct reporting
These reports are required at the transactional level and cover analysis of instalment sale transactions, leasing transactions and selected assets to be submitted on quarterly basis (BA920). It also includes monthly reports on transactions related to derivative instruments (BA350).

Firms are faced with investing time, effort and resource to:

  • Keep abreast of the latest regulatory demands
  • Understand regulatory requirements
  • Re-configure IT solutions to address changing business issues
  • Meet risk and regulatory demands to stay compliant
  • Have audit capability to meet internal and external investigation
  • Have consistent information for both internal and external consumption

So how can we help you?

Wolters Kluwer Financial Services provides regulatory reporting solutions throughout the world for banks, insurance companies, and other financial institutions. By leveraging a global data model (DataFoundation), a standardised integral development environment, fully integrated calculation capabilities and a global runtime engine for reporting, we can provide local reporting efficiently consistently for any jurisdiction.

The main benefits of the our regulatory reporting solution include:

  • Regulatory Update Service (RUS): We actively monitoring regulatory changes and provides updates within the product subscription
  • Full audit trail and drilldown to underlying data, variance analysis, etc as part of the runtime engine
  • Fully integrated solution for risk management & regulatory reporting, as the regulatory framework is converging all over the globe on these topics. This means:
    • Single source of data and data management to ensure consistency
    • Any risk calculation results relevant for regulatory reporting are automatically taken into account into the reporting
  • Regulatory reporting includes report level validation rules and electronic delivery where applicable
  • Local domain expertise while at the same time global consistency

As leaders in the field of risk and regulatory solutions Wolters Kluwer Financial Services understands your business needs. Our heritage in and in-depth knowledge of the financial market enables the development of our solutions to be so flexible that they meet the needs of ALL firms whatever the size or complexity.


Wolters Kluwer Financial Services leads the way in risk and regulatory compliance solutions and has referenceable clients in South Africa who have taken solutions covering reporting requirements for Basel II, Liquidity Risk and ALM.

London Office
5th Floor
120 Aldersgate Street
London
EC1A 4JQ

T: +44 2075396500
E: This e-mail address is being protected from spambots. You need JavaScript enabled to view it

contact_us

© 2013 FRS Belgium NV. All Rights Reserved.