Gold Membership
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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)RegulationsDeposit Insurance Regulations, 2024Chapter VII: Reporting30. Submission by bank in resolution |
| (1) | A bank must provide the Corporation with its total qualifying deposits and total covered deposits, with the supporting SCV calculations, within 48 hours from the date the bank is placed in resolution. |
| (2) | The total qualifying deposits and total covered deposits, with the supporting SCV calculations, must contain the balances of qualifying products due to qualifying depositor or formal beneficiary account holder as at the date the bank was placed in resolution. |
| (3) | If a bank fails to provide the Corporation with total qualifying deposits and total covered deposits, together with the supporting SCV calculations, in accordance with subregulation (1), the resolution practitioner or liquidator must provide the Corporation with the bank’s total qualifying deposits and total covered deposits with the supporting SCV calculations. |
| (4) | Any subsequent amendment to the total qualifying deposits and total covered deposits and the supporting SCV calculations, submitted to the Corporation in accordance with subregulation (1), must be signed and submitted to the Corporation by the resolution practitioner or liquidator of the bank in resolution. |
