AIRB Advanced internal ratings based approach
ALCO Asset and Liability Management committee
AMA Advance Measurement Approach
ASSA Actuarial Society of South Africa
ATM Automated teller machine
BCM Business continuity management
BEE Black Economic Empowerment
BPRMF Business Performance and Risk Management Framework
BSA Bonus stabilisation account
BSM Balance Sheet Management
CAGR (%) Compound annual growth rate
CEO Chief executive officer
CFO Chief financial officer
CGT Capital gains tax
CIS Corporate Social Investment
COO Chief operating officer
CPIX Consumer Price Index
CPM Capital portfolio management
CRMF Credit risk management framework
CRO Chief risk officer
CSA Credit Support Annexes
CV Curriculum Vitae
DAC Deferred acquisition cost
DPF Discretionary participation features
DRL Deferred revenue liability
EAD Exposure at default
ERM Enterprise Risk Management
ETL Expected tail loss
FNB First National Bank
FRB FirstRand Bank Limited
FRBG FirstRand Banking Group Supersegment
FRBH FirstRand Bank Holdings Limited
FRIHL FirstRand Investment Holdings (Pty) Limited
FSB Financial Services Board
FSV Financial Soundness Valuation
FTP Funds transfer pricing
GIA Group Internal Audit function
ICAAP Internal Capital Adequacy Assessment Process
IBNR Incurred but not reported
IFRIC International Financial Reporting Interpretations Committee
IFRS International Financial Reporting Standards
IIA Institute of Internal auditing
Invesco Investment committee
IRB Internal rating based approach
ISDA International Swaps and Derivative Association
ISMA International Securities Market Association
JSE Johannesburg Stock Exchange
KRI Key risk indicators
LGD Loss given default
LRMF Liquidity risk management framework
LTV Loan to value
MMMFTP Marginal matched maturity funds transfer pricing
MPM Macro Portfolio Management
MTM Mark-to-market
NCNR Non cumulative non redeemable
NIACC Net income after capital change
NII Net interest income
NMD Non maturity deposit
NPL Non performing loans
ORC Operational risk committee
ORMF Operational risk management framework
PD Probability of default
PE Price earnings
PFE Potential future exposure
PGN Professional Guidance Note
PIT Point-In-Time
PVIF Present value of in-force
RCC Risk, Capital and Compliance committee
RCSA Risk and control self assessments
RERIT Risk effectiveness reports for IT
RMB Rand Merchant Bank
RRM Regulatory risk management
RWA Risk weighted assets
S&P Standard and Poor
SARB South African Reserve Bank
SENS Stock Exchange News Service
SME Small and medium enterprise
SPE Special purpose entity
SPPIA Standards for Professional Practice of Internal Auditing
STC Secondary tax on companies
TSA The Standard Based Approach
UK United Kingdom
US United States
VaR Value at risk
WACC (%) Weighted average cost of capital