Public Service Commission Act, 1997
R 385
Banks Act, 1990 (Act No. 94 of 1990)RegulationsRegulations relating to BanksChapter II : Financial, Risk-based and other related Returns and Instructions, Directives and Interpretations relating to the completion thereof23. Credit risk: monthly returnDirectives and interpretations for completion of monthly return concerning credit risk (Form BA 200)Subregulation (17) Margin requirements for non-centrally cleared derivative instruments and matters related thereto |
[Subregulation (17) Heading substituted by section 3(k) of Notice No. 1427, GG44048, dated 31 December 2020 - effective 1 January 2021]
| (17) | Margin requirements for non-centrally cleared derivative instruments and matters related thereto |
In order to mitigate the potential systemic risk that may arise from and to promote effective and sound risk management in respect of a bank’s transactions in non-standardised non-centrally cleared derivative instruments a bank shall—
| (a) | calculate and exchange— |
| (i) | initial margin; |
and
| (ii) | variation margin, |
in accordance with such requirements as may be specified from time to time in a Joint Standard or Prudential Standard issued in terms of the Financial Sector Regulation Act, 2017;
| (b) | have in place robust processes, procedures and board-approved policies in respect of the bank’s derivatives transactions that are not cleared through a central counterparty. |
[Regulation 23(17) substituted by section 3(k) of Notice No. 1427, GG44048, dated 31 December 2020 - effective 1 January 2021]
