IMF Staff Country Reports

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

Publication Date:

March 3, 2015

Electronic Access:

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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.

Series:

Country Report No. 2015/053

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