In accordance with the group’s support statement, available in the Annual Report, the Standard Bank Group will ensure that, except in the case of political risk, the Standard Bank of South Africa is able to meet its contractual liabilities.
For the period ending 30 June 2015, Standard Bank Group remains appropriately capitalised with tier I and total capital levels at 13.7% (FY14: 12.9%) and 16.1% (FY14: 15.5%) respectively. The group is in a good position to meet the progressively higher requirements as prescribed by regulatory authorities across markets in which we are present.
The group maintained its strong liquidity positions within approved risk appetite and tolerance limits. Total liquidity in excess of specific prudential requirements amounted to R294,9 billion as at 1H15 (1H14: R268,1 billion), and remains adequate to meet all internal stress testing, prudential and regulatory requirements. The Basel III liquidity coverage ratio (LCR) was implemented on 1 January 2015 and at 30 June 2015 the group had exceeded the 60% minimum phased-in Basel III LCR requirement.