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

International Monetary Fund

No 2008/349, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; bank; market; SARB; capital market; FSB; banking system; market conduct; liquid asset; central bank; conduct responsibility; risk estimate; niches well; insolvent bank; market capitalization; market turmoil; hedge fund market; investment market; Currency markets; Insurance companies; Insurance; Commercial banks; Africa; Global (search for similar items in EconPapers)
Pages: 65
Date: 2008-10-22
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