South Africa: Financial Sector Assessment Program-Financial Safety Net, Bank Resolution, and Crisis Management Framework-Technical Note

March 3, 2015

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Format: Chicago

South Africa: Financial Sector Assessment Program-Financial Safety Net, Bank Resolution, and Crisis Management Framework-Technical Note, (USA: International Monetary Fund, 2015) accessed December 22, 2024

Summary

This Technical Note discusses recommendations made during the Financial Sector Assessment Program (FSAP) for South Africa in the areas of contingency planning, crisis management, and bank resolution. The proposed scope of the new resolution regime and of the South African Reserve Bank’s (SARB) jurisdiction as the resolution authority remains unclear. It is suggested that authorities should consider focusing on all deposit-taking institutions and only those other financial institutions that are currently deemed systemic. Non-deposit-taking financial institutions that are not found to be systemic should be resolved by the Prudential Authority or the Market Conduct Authority, whichever is the lead regulator.

Subject: Bank resolution framework, Banking, Crisis management, Financial crises, Financial regulation and supervision, Financial sector policy and analysis, Financial sector stability, Legal support in revenue administration, Revenue administration

Keywords: Africa, Bank merger, Bank resolution framework, CR, Crisis management, Financial sector stability, ISCR, Judicial review, Legal support in revenue administration, Money market, Regulatory authority, Resolution authority, SARB announcement, SARB debentures rate, SARB governor, SARB Guidance note, SARB guideline, SARB repo rate, SARB-issued debenture, SARB's function

Publication Details

Pages:

42
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/053
Stock No:

1ZAFEA2015003
ISBN:

9781498368193
ISSN:

1934-7685

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