Thursday, October 18, 2018 | 02:48 AM

Monthly and Quarterly Statutory Returns

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Under the Banking Act 1995 (Cap 46.04), banking institutions are required to submit statutory returns to the Bank of Botswana providing a detailed breakdown of their assets and liabilities. This is both to help ensure that their operations are conducted within the necessary parameters to ensure continued financial stability, as well as to collect information that is required for statistical purposes. Most of the information is submitted on a monthly basis, although some additional material is collected quarterly. The reporting format currently in use was introduced in January 2011 and is consistent with requirements of both the Bank for International Settlements' Basle II framework and the International Monetary Fund. After an initial period to allow the banks to to adjust to the greater detail now required, the submissions will be be required to be made within ten working days of the end of the reporting period.

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