IMF Staff Country Reports

South Africa: Financial System Stability Assessment, Including Report on the Observance of Standards and Codes on the following topic: Securities Regulation

October 22, 2008

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International Monetary Fund. Monetary and Capital Markets Department "South Africa: Financial System Stability Assessment, Including Report on the Observance of Standards and Codes on the following topic: Securities Regulation", IMF Staff Country Reports 2008, 349 (2008), accessed November 21, 2024, https://doi.org/10.5089/9781451841084.002

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Summary

This paper discusses the Financial System Stability Assessment for South Africa, and reviews the Report on the Observance of Standards and Codes on Securities Regulation. The assessment reveals that South Africa’s sophisticated financial system is fundamentally sound and has so far weathered the global financial market turmoil without major pressures. Banks and insurance companies have enjoyed good profitability, capitalization levels, and reserves. The financial sector regulatory framework is modern and generally effective. Stress tests suggest that capital and reserve cushions at banks and insurance companies are sufficient to absorb large shocks.

Subject: Banking, Commercial banks, Currency markets, Financial crises, Financial institutions, Financial markets, Insurance, Insurance companies

Keywords: Africa, Bank, Banking system, Capital market, Central bank, Commercial banks, Conduct responsibility, CR, Currency markets, FSB, Global, Hedge fund market, Insolvent bank, Insurance, Insurance companies, Investment market, ISCR, Liquid asset, Market, Market capitalization, Market conduct, Market turmoil, Niches well, Risk estimate, SARB

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