Mutual Banks Act, 1993 (Act No. 124 of 1993)

Regulations

Regulations relating to Mutual Banks

Chapter II : Risk-based Returns and Instructions, Directives and Interpretations relating to the completion thereof

11. Gross balances
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(1) Unless otherwise provided in these Regulations, including the prescribed forms, all information required to be reported in the forms shall be reported on the basis of gross balances.

 

(2) The reduction of balances shall be effected only as a result of the application of set-off in terms of regulation 15 or cash-management schemes in terms of regulation 18.

 

(3) Assets pledged as security for liabilities of a reporting mutual bank, and such liabilities, shall be reported respectively on the basis of gross balances.