JOHANNESBURG Jan 10 (Reuters) – South Africa’s
Reserve Bank says it will not lengthen the time lenders in the
country will have to comply with the new global Basel III
banking rules, as they will have enough notice by which to
implement the regulations, a senior official said.
“The South Africa Reserve Bank remains committed to the time
lines stipulated by the Basel III regulations,” Hlengani
Mathebula, the bank’s head of Strategy and Communications
Department, told Reuters.
“One must remember that the time lines contained in the
Basel III regulations allow for sufficient planning and
preparation. The whole global banking industry is facing the
same challenges.”
(Reporting by Helen Nyambura-Mwaura)
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