The FX market is in a constant state of flux, rising or falling in response to economic and fiscal stimuli occurring anywhere on the planet. Central Banks react to these changes in a variety of ways, deploying an assortment of measures to mitigate any ill-effects and maximize any advantages that may arise from these changes. The CB issues updates on its interventions to notify the public of its actions and you can find those updates here.

 DOCUMENTATION REQUIREMENTS FOR ALLOCATION OF FX FOR SMALL-SCALE IMPORTATION
 REVISED IMPORT & EXPORT DOCUMENTATION AND TIMELINE FOR PROCESSING FORM NXP
 FCBN CIRCULAR_HDPE & LDPE ACCESS TO FX MKT

 Form Q For SMEs

Bank Joins UN Global Compact

In its Commitment to operating in line with global best practices in all aspects of its business, PT Bank Plc has joined the United Nations Global Compact. Chairman and Co-founder of the Bank, Mr. Jim Ovia consummated the process in New York, USA, August 2014. With this, the Bank is now making UN Global Compact and its principles part of the strategy, culture and day-to-day operation of the company.

Definitions

Find out more about some of the terms used.

  • These definitions should be read in conjunction with the Group’s accounting policies as set out in the annual financial statements, which also clarify certain terms used.

Amounts written off

Once an advance has been identified as impaired and an impairment allowance has been raised, circumstances may change and indicate that the prospect of further recovery does not exist. Write-offs will occur when, and to the extent that, the debt is considered irrecoverable. A write-off policy based on an age-driven concept drives the timing and extent of write-offs.

A write-off can also be triggered by a specific event, such as the conclusion of insolvency proceedings or other formal recovery actions, making it possible to quantify the extent of the advance that is beyond a realistic prospect of recovery. Assets are only written off once all necessary procedures have been completed and the amount of loss has been determined. Recoveries of amounts previously written off, are reversed and accordingly decrease the amount of the reported impairment charge in the statement of comprehensive income.

Approaches (FIRB, AIRB, AMA and IMA)

Methods available to banks to calculate their regulatory capital requirements, based on their own risk estimates. These include the foundation internal ratings-based (FIRB) and advanced internal ratings-based (AIRB) approaches for credit risk, the advanced measurement approach (AMA) for operational risk and the internal models approach (IMA) for market risk.

Average interest-bearing assets

Average interest-bearing assets consist of all accounts that are not impaired and thus attract interest within the asset categories of cash, cash balances and balances with central banks, loans and advances to banks and customers and investment securities (including cash and short-term assets, money market assets and capital market assets).

Balance sheet

The term “balance sheet” is used in the same context as the “statement of financial position”.

Bank

Absa Bank Limited, together with its subsidiary undertakings, special-purpose entities, joint ventures, associates and offshore holdings. It is also referred to as “the Bank” or “Absa Bank” in this report.

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