Banking | - Part 101

Regulation | The Fundamental Review of the Trading Book

LAGOS (Capital Markets in Africa) – The very aptly named Fundamental Review of the Trading Book (FRTB) is set to go live in 2019 according to the final standards (1) published by Basel Committee on Banking Supervision (BCBS) in January this year. The paper calls for the rules to be incorporated into national legislations by January 2019 with banks expected to use FRTB for calculating reported regulatory capital by January 2020. Whilst its main objective…

African Central Banks Monetary Policy Rates and Foreign Reserves

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – Algeria’s foreign exchange reserves dropped by $7.1 billion to $121.9 billion in the third quarter of 2016 due to lower oil prices that have hit the country’s finances, Central Bank Governor Mohamed Loukal said. Oil and gas earnings, which make up 94 percent of total exports and 60 percent of the state budget, fell to $18.8 billion in the first nine months of 2016, down 26.3 percent from the…

South Africa’s big four banks to see rise in problem loans – Moody’s

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South Africa’s big four banks will see a rise in problem loans in the next 12 to 18 months as the economy struggles to grow, but this poses only a moderate risk to profits, ratings agency Moody’s said on Tuesday. Sluggish economic growth, forecast by the government to average 0.5 percent this year, will pose challenges for FirstRand, Standard Bank, Barclays Africa Group and Nedbank. “The subdued South African…

Zimbabwe’s President Mugabe decrees regulations paving way for bond notes

Posted on by The Editorial Team

HARARE (Capital Markets in Africa) – Zimbabwean President Robert Mugabe has side-stepped parliament to issue a decree clearing the way for the introduction of “bond notes” that have raised fears of a return to a domestic currency abandoned in 2009 as hyperinflation crippled the economy. The bond notes are meant to ease biting cash shortages that have gripped the southern African nation since March but have helped fuel anti-government protests in recent months. Mugabe late…

Uganda central bank cuts main rate to 13 pct, more easing seen

Posted on by The Editorial Team

KAMPALA (Capital Markets in Africa) – Uganda’s central bank cut its main interest rate on Tuesday to 13 percent from 14 percent to boost growth, and analysts said there was room for another reduction this year. Policymakers in the East African nation began cutting the benchmark rate in April, bringing it back down from the peak of 17 percent reached as the bank battled a surge in prices. Core inflation dipped to 4.8 percent last month…

Barclays sells Egyptian Business to Morocco’s Attijariwafa Bank

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LONDON (Capital Markets in Africa) – Britain’s Barclays has completed the sale of its Egyptian business to Morocco’s Attijariwafa Bank as part of its shift towards focussing on the United States and Britain. The sale will mean a cut of about 2 billion pounds in Barclays’ risk-weighted assets, it said on Tuesday, boosting the bank’s core capital ratio by about 0.1 percent. Barclays did not give a price for the transaction, although sources previously told Reuters…

De-Risking in Africa is on the risk according to latest Swift data

Posted on by The Editorial Team

LAGOS (Capital Markets in Africa) – The latest SWIFT data shows that many countries in Africa have seen a reduction in the number of foreign counterparties, the overseas banks with which African banks transact. The data was part of a new report looking at the impact of global regulations on correspondent banking networks, called ‘Addressing the unintended consequences of de-risking – Focus on Africa’, which was released at the SWIFT Business Forum South Africa, in…

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