Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)RegulationsDeposit Insurance Regulations, 2024Chapter VII: Reporting32. Validation or verification of SCV calculations |
| (1) | The Corporation must perform a validation or verification of a bank’s SCV calculations. |
| (2) | If the Corporation informs a bank of any errors or discrepancies identified in the bank’s SCV calculations, the bank must correct and resubmit its total qualifying deposits and total covered deposits, with the supporting SCV calculations, to the Corporation within 48 hours or a timeframe specified by the Corporation. |