Draft Banks Act Regulations

The National Treasury has published the proposed amendments to the Regulations relating to banks, and is asking you comment.

12 active citizens have provided input in this, so far. Have your say below.

According to the notice, the draft amendments are designed to ensure that the “legal framework for the regulation and supervision of banks and banking groups in South Africa remains relevant and current…”.

Amendments are proposed, inter alia, to Regulation 23(15) to amend enabling provisions on the measurement of counterparty credit risk exposures and to insert Regulation 23(16) on banks’ exposures to central counterparties; Regulation 23(18) on exposure to central counterparties; Form BA 200 on banks’ exposures to counterparty credit risk and Regulations 31(6) and 31(7) on Basel Committee requirements in respect of banks’ equity investments in funds.

Comment is invited until 30 August 2019.

Important to note; This is a legally protected public policy-shaping process mandated in the SA Constitution. By using DearSA’s platform you ensure an accurate record is held by civil society (so government cannot dispute participation facts or figures) which forms a solid foundation for a legal case should the necessity arise. It is not a petition. Your input is immediately sent to government and must, by law, be individually acknowledged and considered. Had this been a petition, all input would be grouped as a single submission.

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Do you support the Draft Banks Act Regulations? (see summary)
Yes I doNo I do notNot fully

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PUBLIC INPUT displaying latest 5

Carol
Not fully
It is known fact the banks rule the world.
Why is it that the citizens of SA pay such high interest rates on any borrowings to banks?
How is it that foreign banks charge next to no interest on their citizens borrowings? This results in more people being afforded opportunities to buy their own homes without relying on hand-outs from the government and burdening the few tax payers in this country.
REDUCE INTEREST RATES ON PAR WITH THE USA & EUROPE.
Carol
No I do not
This government will continue to change the Constitution willy-nilly to suit IT'S wants & not those of the people !
Mafini
Yes I do
@ SA is the only country where instead of earning interest on your money, the depositor is charged interest to bank, withdraw and for general maintenance. What then, is the incentive to bank your money?
@ The largest clientele comes from poor Africans, yet huge donations are given to rugby, cricket, swimming and many sports with very few Africans.
@ To be part of developing the economy of the country, legislation should make it an imperative for banks to develop African entrepreneurs by giving them loans especially geared towards starting small businesses.
@ A division must be established to guide and mentor them for success.
@ The loans must be paid back accordingly.
@ Irresponsible behavior must be met with the appropriate penalty.
@ All we ask is to be given a fair chance.
Floris
Yes I do
Keep up with international standards.
Petro
Yes I do
Regulation of banks is an important part of preventing another 2008 type melt down. South Africa's saving grace at that time was the strict banking controls that were already in place then. We have to stay up to date with international standards and incorporating legislation relating to the latest Basel standards can only be a good thing.