South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation
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Washington, DC
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This assessment found South Africa s
regulatory system to be fundamentally sound and compliant
with international standards. Banking supervision has been
effective and has helped limit the impact on the financial
sector of the global financial crisis. The assessment
recommended that the bank registrar s remedial powers for
addressing problems in banks should be strengthened and that
a specific regulation for dealing with country and transfer
risk be introduced.The FSB is also undertaking a study of
the OTC market. Limited progress has been made by the
Department of Trade and Industry (DTI) to implement
significant amendments to the Companies Act that were
enacted in 2007 and in 2009. If progress continues to lag,
consideration should be given to reassigning responsibility
for these functions to the Financial Services Board (FSB).
Palabras clave
ACCESS TO INSURANCE, ACCOUNTABILITY, ACCOUNTING, AGRICULTURAL COMMODITIES, ALM, ASSET PORTFOLIO, ASSET-BACKED SECURITIES, AUDIT COMMITTEE, AUDITING, AUDITORS, AUTONOMY, BALANCE SHEETS, BANK RUN, BANK SUPERVISION, BANKING ASSETS, BANKING SECTOR, BANKING SECTOR ASSETS, BANKING SUPERVISION, BANKING SYSTEM, BANKS, BIDS, BOND, BOND ISSUES, BOND TRADING, BROKER, BROKERS, CAPACITY BUILDING, CAPITAL ADEQUACY, CAPITAL ADEQUACY RATIOS, CAPITAL MARKETS, CAPITAL PLANNING, CAPITAL REQUIREMENTS, CAPITALIZATION, COLLATERAL, COLLECTIVE INVESTMENT, COMMERCIAL BANKS, COMPANY LAW, CONSOLIDATED SUPERVISION, CONSUMER CREDIT, CONSUMER PROTECTION, CONTINGENCY PLANNING, CONTRACTUAL SAVINGS, COOPERATIVE BANKS, CORPORATE GOVERNANCE, COUNTRY RISK, CREDIT DEFAULT, CREDIT DEFAULT SWAPS, CREDIT RATING, CREDIT RATING AGENCIES, CREDIT RISK, CREDIT RISK MANAGEMENT, CUSTODY, DEBT, DEBT INSTRUMENTS, DEBT SECURITIES, DEFAULT RISK, DEPOSIT, DEPOSIT INSURANCE, DEPOSITORS, DERIVATIVE, DERIVATIVE PRODUCT, DERIVATIVES, DERIVATIVES EXCHANGE, DERIVATIVES MARKET, DISCLOSURE REQUIREMENTS, DISCLOSURE STANDARDS, DOMESTIC BOND, DOMESTIC BOND MARKET, EMERGING MARKET, ENFORCEMENT POWERS, EQUITIES, EQUITY MARKET, EQUITY MARKETS, EQUITY SECURITIES, EXCHANGE CONTROL, EXTERNAL AUDITORS, FINANCIAL CRISIS, FINANCIAL HEALTH, FINANCIAL INFORMATION, FINANCIAL MARKETS, FINANCIAL RISK, FINANCIAL SECTOR DEVELOPMENTS, FINANCIAL SERVICE PROVIDERS, FINANCIAL SERVICES, FINANCIAL STABILITY, FINANCIAL STATEMENTS, FINANCIAL SYSTEM, FOREIGN ASSETS, FOREIGN BANK, FOREIGN BANKS, FOREIGN CURRENCIES, FOREIGN CURRENCY, FOREIGN EXCHANGE, FOREIGN MARKET, FRAUD, FREE ASSETS, FUTURES, FUTURES EXCHANGE, GOVERNMENT DEBT, HEDGE FUND, HEDGE FUNDS, HOLDING COMPANIES, HOST COUNTRY, INFLATION, INITIAL PUBLIC OFFERINGS, INSIDER TRADING, INSURANCE, INSURANCE COMPANIES, INSURANCE COMPANY, INSURANCE COMPANY INVESTMENTS, INSURANCE PENETRATION, INSURANCE PREMIUMS, INSURANCE PRODUCTS, INTELLECTUAL PROPERTY, INTEREST RATE, INTEREST RATE RISK, INTEREST RATES, INTERNAL AUDIT, INTERNAL CONTROLS, INTERNATIONAL DEVELOPMENTS, INTERNATIONAL STANDARDS, INVESTMENT BANKS, INVESTOR PREFERENCES, ISSUANCE, LAWS, LEGAL AUTHORITY, LEGAL FRAMEWORK, LEGAL PROTECTION, LEGISLATION, LEVY, LIFE INSURANCE, LIFE INSURANCE COMPANIES, LIQUIDITY, LIQUIDITY MANAGEMENT, LIQUIDITY RISK, LIVING STANDARDS, LOCAL GOVERNMENT, MACROECONOMIC POLICIES, MANDATES, MARKET CAPITALIZATION, MARKET CONDITIONS, MARKET DEVELOPMENTS, MARKET ENVIRONMENT, MARKET RISK, MARKET RISKS, MARKET STRUCTURE, MARKET SURVEILLANCE, MARKET TRANSACTIONS, MARKET VALUE, MATURITY, MICRO INSURANCE, MONETARY FUND, MONETARY POLICIES, MONETARY POLICY, MONEY MARKET, MORAL SUASION, MUTUAL FUNDS, NATIONAL CREDIT, NATIONAL TREASURY, OFFSITE SUPERVISION, OPERATIONAL INDEPENDENCE, OPERATIONAL RISK, OPERATIONAL RISKS, PENALTIES, PENSION, PENSION FUND, PENSION FUND ASSETS, PENSION FUNDS, PENSIONS, PORTFOLIOS, PRUDENTIAL REGULATION, PRUDENTIAL REGULATIONS, PRUDENTIAL REQUIREMENTS, RATING AGENCIES, REDEMPTION, REGULATORY AUTHORITIES, REGULATORY AUTHORITY, REGULATORY FRAMEWORK, REGULATORY OBJECTIVES, REGULATORY OVERSIGHT, REGULATORY STRUCTURE, REGULATORY SYSTEM, REGULATORY SYSTEMS, RESERVE, RESERVES, RESOURCE ALLOCATION, RETIREMENT, RETURN, RETURNS, RISK MANAGEMENT, RISK PROFILE, SAVINGS, SECONDARY MARKET, SECONDARY MARKET TRADING, SECURITIES, SECURITIES MARKET, SECURITIES MARKETS, SECURITIES REGULATION, SETTLEMENT, SHAREHOLDER, SHAREHOLDERS, SOLVENCY, SPOT MARKET, STOCK EXCHANGE, STOCKS, SUBSIDIARIES, SUBSIDIARY, SUPERVISORY AUTHORITY, SUPERVISORY FRAMEWORK, SUPERVISORY POWERS, SWAP, SYSTEMIC RISK, TAX, TERRORISM, THE SOUTH AFRICAN RESERVE BANK, TIER 1 CAPITAL, TIER 2 CAPITAL, TRADING SYSTEM, TRANSFER RISK, TRANSFER RISKS, TRANSPARENCY, TURNOVER, USE OF DERIVATIVES, VALUATION