South Africa : Financial Sector Assessment Program-Detailed Assessment of Compliance on the Basel Core Principles for Effective Banking Supervision.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Monetary and Capital Markets Department.

Series:

IMF Staff Country Reports; Country Report ; No. 2015/055

IMF Staff Country Reports

Language:

English

Subjects (All):

International Monetary Fund--South Africa.

International Monetary Fund.

Banks and banking--State supervision--South Africa.

Banks and banking.

Banks and banking--State supervision--South Africa--Evaluation.

Banking law--South Africa.

Banking law.

Physical Description:

1 online resource (197 p.)

Edition:

1st ed.

Place of Publication:

Washington, D.C. : International Monetary Fund, 2015.

Language Note:

English

Summary:

This paper discusses key findings of the Detailed Assessment of Compliance on the Basel Core Principles for Effective Banking Supervision in South Africa. The South African banking system is highly concentrated with more than 90 percent of banking assets being controlled by the five largest banks. A suitable legal framework for banking supervision is in place to provide each responsible authority with the necessary legal powers to authorize banks, conduct ongoing supervision, address compliance with laws, and undertake timely corrective actions to address safety and soundness concerns. The responsibilities and objectives of each of the authorities involved in banking supervision are clearly defined in legislation and publicly disclosed.

Contents:

Cover; Contents; Glossary; INTRODUCTION; BACKGROUND INFORMATION AND METHODOLOGY; BOX; 1. The 2012 Revised Core Principles; INSTITUTIONAL AND MARKET STRUCTURE-OVERVIEW; A. Institutional Framework for Regulation and Supervision; B. Overview of the Banking Sector; FIGURES; 1. Financial Assets in South Africa; 2. Shares of Banking Assets; PRECONDITIONS FOR EFFECTIVE BANKING SUPERVISION; A. Macroeconomic Environment; B. Frameworks for Financial Stability Oversight, Crisis Management, and Systemic Protection

C. Infrastructures for the Financial Sector DETAILED ASSESSMENT; TABLES; 1. Supervisory Powers, Responsibilities, and Functions; 2. Prudential Regulations and Requirements; 3. Summary Compliance with the Basel Core Principles; RECOMMENDED ACTIONS AND AUTHORITIES COMMENTS; A. Recommended Actions; 4. Recommended Actions to Improve Compliance with the Basel Core Principles and the Effectiveness of Regulatory and Supervisory Frameworks; B. Authorities' Response to the Assessment

Notes:

Description based upon print version of record.

Description based on online resource; title from PDF title page (ebrary, viewed April 25, 2015).

ISBN:

9781498376136

1498376134

OCLC:

907303063