Eligible institutions approved by the Registrar of Banks
Last Modified Date:
2020-10-01, 09:31 PM
Publications > Info Requirements ECAI and ECA
The Banks Act, 1990 (as amended). is aimed at providing the legal basis for the implementation of Basel II in South Africa. Section 1(1) of the Bill provides for, inter alia, the following definition: ““eligible institution" means an external credit assessment institution or an export credit agency that meets the minimum requirements as prescribed and which institution or agency has been approved in writing by the Registrar."To assist External Credit Assessment Institutions or Export Credit Agencies in the preparation of applications for approval by the Registrar of Banks (the “Registrar”), reference has to be made to the Accord Implementation Forum’s position paper 194, detailing the information requirements for such an application.Institutions may wish to use this information as a guide in drafting their applications in this regard. Banks Act Circular 2/2011 lists the eligible institution as approved by the Registrar in terms of section 85A of the Banks Act, 1990 (as amended).