South Africa could reduce capital reserves by 2% as a result of Basel II
The South African Reserve Bank hopes to lower its capital reserve requirements from the current 10% to 8% as a result of the implementation of the new Basel Accord, according to Carel Oosthuizen, head of Basel II implementation at the bank.
South Africa plans to implement Basel II on January 1, 2008. The reduction in capital levels will bring South African banks to international standards, Oosthuizen said.
Speaking at a reserve bank presentation in Johannesburg, Oosthuizen said the government had not yet decided whether to revise the capital adequacy requirements, which at present require banks to set aside more money than stipulated in the Basel Capital Accord regulations.
However, Oosthuizen says there are still some
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