The Financial Sector Forum
Regulation and Legislation
Release of the microinsurance policy document
01 Aug. Release of the microinsurance policy document by SA Treasury. The National Treasury has released a policy document entitled “The South African Microinsurance Regulatory Framework”. The proposed microinsurance framework discussed in this document aims to address the specific challenges of improving access to insurance and consumer protection for lower income families in South Africa. It … Continue reading
National Credit Regulator stumbles over legislation
11 Jul. Debt-review process hampered by disputes. Disclosures of a debt counsellor’s alleged bid to bribe National Credit Regulator staff with alcohol and sex are among many problems besetting the organisation. Five years after its birth out of the Micro Finance Regulatory Council that it replaced, the regulator is struggling to keep a grip on its … Continue reading
Regulators’ dilemma: no one can see the elephant
05 Jul. Regulators’ dilemma: no one can see the elephant. Anyone who tries to snatch the punch bowl while the party’s still swinging is going to draw a lot of flak[*]. So financial regulators, who sense trouble but can’t prove it is on the way, are reluctant to move too soon. Their dilemma was summed … Continue reading
SARB Governor’s Address and Annual Economic Report 2011
Governor’s address at the ordinary general meeting of the SA Reserve Bank, 30 June 2011. A brief outline of the global and economic outlook. … The global financial crisis, which is now in its fourth year, and persistent global imbalances and volatile capital flows have again put the nature of the international monetary system and … Continue reading
What will the twin-peaks financial regulation structure in SA look like?
What will be the twin-peaks financial regulation structure in SA look like? Finance Minister Pravin Gordhan’s much-anticipated “twin peak” model for financial regulation reform was spelt out in his February budget speech under the heading Transformation of the financial sector [*] and in more detail in the policy document entitled A safer financial sector to … Continue reading
FNB: Reform shaking the world one way or another
21 Jun. FNB Comment: Reform shaking the world one way or another. Guan Tao, a senior Chinese state official, put it well, though not being particularly original:USeconomic policy can best be expressed as ‘my Dollar, your problem’. John Connally, Governor of Texas in Kennedy’s time and Nixon’s Treasury Secretary a decade later, did it 40 … Continue reading
Tight regulation has been good for SA banks
27 May. Regulation of SA banks. The quality and conservatism of banking regulation and prudential supervision of banks in South Africa has been positive for the banking system in the view of rating agency Standard & Poor’s. “In particular, we believe tight regulation helped protect South African banks from the most severe effects of the … Continue reading
SARB March 2011 Financial Stability Review
Overview: This issue of the Financial Stability Review focuses mainly on the six-month period ending December 2010 but also on selected developments up to 12 April 2011. Since the release of the September 2010 Financial Stability Review, the global financial system has remained vulnerable and significant policy challenges still need to be addressed. Pockets of … Continue reading
Retirement of Registrar of Banks Errol Kruger
18 Apr. SARB announces early retirement of Mr Errol Kruger Mr Errol Kruger, the Registrar of Banks, will go on early retirement with effect from 31 July 2011, after 34 years of uninterrupted service at the South African Reserve Bank. Mr Kruger joined the bank as a clerk and progressed through the ranks to the … Continue reading
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