Sarb issues new collateral requirements for committed liquidity facility
The South African Reserve Bank (Sarb) on Friday issued new collateral requirements and operational guidelines for its committed liquidity facility (CLF) approved by Sarb last year in an effort to help domestic lenders meet the liquidity coverage ratio (LCR) under Basel III, which was greenlighted in January and comes into effect from 2015.
Under the revised CLF, Sarb noted, individual banks will be required to meet the requirements for level 1 assets under the LCR on their own, but use the CLF
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