{"id":6910,"date":"2012-01-10T20:33:08","date_gmt":"2012-01-10T18:33:08","guid":{"rendered":"http:\/\/www.myza.co.za\/01\/update-1-s-africas-cbank-says-will-keep-basel-iii-timelines\/"},"modified":"2012-01-10T20:33:08","modified_gmt":"2012-01-10T18:33:08","slug":"update-1-s-africas-cbank-says-will-keep-basel-iii-timelines","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-s-africas-cbank-says-will-keep-basel-iii-timelines\/","title":{"rendered":"UPDATE 1-S.Africa’s Cbank says will keep Basel III timelines"},"content":{"rendered":"

\t\t<\/span><\/p>\n

(Adds details)<\/span><\/p>\n

<\/span><\/p>\n

JOHANNESBURG<\/span> Jan 10 (Reuters) – South Africa’s
\nReserve Bank says it will not lengthen the time lenders in the
\ncountry will have to comply with the new global Basel III
\nbanking rules, as they will have enough notice by which to
\nimplement the regulations, a senior official said.<\/p>\n

<\/span><\/p>\n

“The South Africa Reserve Bank remains committed to the time
\nlines stipulated by the Basel III regulations,” Hlengani
\nMathebula, the bank’s head of Strategy and Communications
\nDepartment, told Reuters.<\/p>\n

<\/span><\/p>\n

“One must remember that the time lines contained in the
\nBasel III regulations allow for sufficient planning and
\npreparation. The whole global banking industry is facing the
\nsame challenges.”<\/p>\n

<\/span><\/p>\n

Mathebula said a decision on the new regulations would be
\nmade “shortly” to allow the banks enough time to beat the 2015
\ndeadline for liquidity requirements.<\/p>\n

<\/span><\/p>\n

South African lenders have plenty of capital, but due to
\ntheir reliance on short-term funding, they are likely to face
\nbig hurdles to increase their liquid assets. The rules have been
\ncreated to help avoid another financial meltdown and taxpayer
\nbailouts.<\/p>\n

<\/span><\/p>\n

Tough regulation helped lenders in Africa’s biggest economy
\n– where banks such as Absa Group, FirstRand,
\nStandard Bank and Nedbank are relatively well
\ncapitalised – through the worst of the global credit crisis.<\/p>\n

<\/span><\/p>\n

Mathebula said that although the country’s banks are
\nfinancially sound and profitable, the likelihood of a takeover
\nbid by a global bank with a broader African strategy in mind was
\nslim due to the global financial turmoil.<\/p>\n

<\/span><\/p>\n

HSBC walked away from talks to buy a majority stake
\nin Nedbank, South Africa’s fourth-largest lender, in 2010.<\/p>\n

<\/span><\/p>\n

“The current global financial climate combined with the
\nfuture Basel III capital requirements may, in the short term at
\nleast, make it unlikely but not impossible for an approach by a
\nforeign bank,” he said. \t<\/p>\n

(Reporting by Helen Nyambura-Mwaura)<\/p>\n

<\/span><\/p>\n

\n

\t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"

(Adds details) 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 […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-6910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=6910"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/6910\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=6910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=6910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=6910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}