To ensure that banks (including branches of foreign institutions), controlling companies, eligible institutions and auditors of banks or controlling companies are in no doubt as to which previously issued circulars remain effective, the Prudential Authority (PA) will annually confirm their status. Addressees should note that, contrary to the process whereby the status of circulars are confirmed annually, directives issued in terms of section 6(6) of the Banks Act, 1990 (Act No. 94 of 1990) (Banks Act) remain effective until they are formally withdrawn in writing by the PA in terms of section 6(6)(c) of the Banks Act.