A closer look at Africa’s banking sector

Banks require specific resolution arrangements as a result of their interconnectedness with each other, the rest of the financial system, and the real economy. A credible recovery and resolution regime not only impacts depositors, it can also have potential impacts on international debt markets, rating agencies and correspondent banking.

Working with colleagues and correspondent law firms from across Africa, we undertook a review concerning the state of recovery and resolution laws for banks against the FSB Key Attributes*. The key issues we examined include:

  • Requirements to prepare recovery and resolution plans
  • Powers to transfer shares of the bank and/or its assets
  • Suspensions of counterparties’ ability to exercise termination and security rights
  • Impacts on creditors and protections to ensure that they are no worse off than in an insolvency
  • Protection for bank directors and officers from liability for decisions made by the resolution authority

We developed ‘State of bank and recovery and resolution laws in Africa’ as part of our NRF Institute to provide a practical overview of the requirements applicable to more than 20 jurisdictions across Africa.

You can use the guide to:

  • Create and customise your own reports – compare multiple jurisdictions or report on them individually
  • Learn about the key themes drawn from the study
  • Gain regional insight by examining the key findings and impacts across each jurisdiction

Register for the guide

To request access to ‘State of bank recovery and resolution laws in Africa’, please register to join NRF Institute.

Registration indicates acceptance of the terms and conditions which include important information about how our product will be delivered.

Members of NRF Institute can access a range of premium content including knowledge hubs and cross-border guides.

*In response to the 2008 global financial crisis, the Financial Stability Board (FSB) published its ‘Key Attributes for Effective Resolution Regimes For Financial Institutions’. These attributes set out the core elements that the international body considers to be necessary for an effective resolution regime.



Contacts

Alan Bainbridge
Alan Bainbridge
Partner
Email
alan.bainbridge@nortonrosefulbright.com
T: +44 (20) 74443279
Roberto Cristofolini
Roberto Cristofolini
Partner
Email
roberto.cristofolini@nortonrosefulbright.com
T: +33 (1) 56595245
Simon Lovegrove
Simon Lovegrove
Global Director of Financial Services Knowledge, Innovation and Product
Email
simon.lovegrove@nortonrosefulbright.com
T: +44 (20) 74443110

Practice areas:

Industry:

Recent publications

Restructuring touchpoint blog image

Publication

Intel judgment - more than one way to skin a rebate?!

On 24 October 2024, the Court of Justice of the European Union (CJEU) confirmed that the European Commission’s (the EC) 2009 decision, which imposed a (then record) €1.06 billion fine on Intel, was flawed as far as it found that loyalty rebates granted by Intel had anti-competitive effects.

Global | December 19, 2024

Antitrust and competition
Rio

Publication

The 2025 Dutch tax classification of the Brazilian FIP

The Dutch tax classification system for non-Dutch entities will undergo significant changes as of 1 January 2025.

Global | December 19, 2024

Tax
Vessel at a dock loading containers

Publication

Paying the Price: Court of Appeal holds debt still due when non-fulfilment of a condition precedent is caused by the buyer’s own breach

In King Crude Carriers SA & Ors v Ridgebury November LLC & Ors [2024] EWCA Civ 719 the Court of Appeal held that the claimant sellers (the Sellers) were entitled to claim the deposits promised under sale contracts as a debt despite the defendant buyers’ (the Buyers) breach of contract, which had resulted in the non-fulfilment of a condition precedent to the payment of the deposits.

Global | December 18, 2024

Shipping
Site search

Subscribe and stay up to date with the latest legal news, information and events . . .

Register now