JOHANNESBURG
(Reuters) – South Africa’s Reserve Bank has approved the provision of a committed liquidity facility
from which lenders in the country can draw from to meet Basel III liquidity coverage ratio
requirements, it said on Tuesday.
Tests
on seven banks had exposed shortfalls in meeting liquidity ratios because of South Africa’s dependence
on wholesale, short-term funding, central bank said in a statement.
Banks that expect to make
use of the facility, which will be in place at the start of 2013, will be required to pay a commitment
fee, even if they do not draw from it.
