South Africa: Detailed Assessment of Compliance on Basel Core Principles for Effective Banking Supervision

December 8, 2010

Preview Citation

Format: Chicago

South Africa: Detailed Assessment of Compliance on Basel Core Principles for Effective Banking Supervision, (USA: International Monetary Fund, 2010) accessed November 21, 2024

Summary

Banking supervision in South Africa has been effective in reducing the impact of the global financial crisis. The banks have remained profitable, and capital adequacy ratios have been maintained well above the regulatory minimum. The supervisory and regulatory framework has been strengthened substantially. A specific regulation dealing with country and transfer-risk regulation should be drafted. The registrar’s remedial powers in banks should be strengthened. The Bank Supervision Department should expand its expertise in specialized areas such as operational risk and countering the abuse of financial services.

Subject: Bank supervision, Banking, Capital adequacy requirements, Credit risk, External audit, Financial regulation and supervision, Internal audit, Market risk, Public financial management (PFM)

Keywords: Africa, Audit committee, Bank supervision, Board of directors, Capital ratio, Compliance officer, Country risk, CR, Credit risk, Credit risk, External audit, Internal audit, ISCR, Market risk, Minister of finance, Risk assessment, Risk management, Senior management

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/353
Stock No:

1ZAFEA2010004
ISBN:

9781455212767
ISSN:

1934-7685

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