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South Africa Financial Sector Assessment Program Financial System Stability Assessment
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Book Synopsis South Africa: Financial Sector Assessment Program-Financial System Stability Assessment by : International Monetary
Download or read book South Africa: Financial Sector Assessment Program-Financial System Stability Assessment written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-11 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: The economy recovered strongly in 2021, following an unprecedented real output contraction in 2020. However, the outlook remains precarious amidst projected future low growth, high unemployment and adverse debt dynamics, and the recovery pace is unlikely to be sustained. Ample buffers allowed the financial system to handle the COVID-19 shock relatively well, but domestic and external downside risks remain substantial—with potential implications for asset quality, profitability, and solvency.
Download or read book South Africa written by and published by . This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498314171 Total Pages :104 pages Book Rating :4.4/5 (983 download)
Book Synopsis South Africa by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book South Africa written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2014-12-11 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses findings of the Financial System Stability Assessment for South Africa. South Africa’s financial sector operates in a challenging economic environment. Despite remarkable progress since the end of apartheid in 1994, South Africa still has one of the world’s highest unemployment and income inequality rates. Slow economic growth since 2008 has further aggravated unemployment, real disposable income is stagnant, and households are heavily indebted. Relatively high capital buffers as well as sound regulation and supervision have helped mitigate the risks. Stress tests confirm the capital resiliency of banks and insurance companies to severe shocks but illustrate a vulnerability to liquidity shortfalls.
Book Synopsis South Africa by : International Monetary Fund
Download or read book South Africa written by International Monetary Fund and published by International Monetary Fund. This book was released on 2008-10-22 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Financial Sector Assessment by : World Bank
Download or read book Financial Sector Assessment written by World Bank and published by World Bank Publications. This book was released on 2005-09-29 with total page 494 pages. Available in PDF, EPUB and Kindle. Book excerpt: The experience of many countries around the world clearly shows that while financial sector development can spur economic growth, financial fragility and instability can seriously harm growth. Following the financial crises of the late 1990s, there has been increasing interest in the systematic assessment of the strengths and weaknesses of financial systems, with the ultimate goal of formulating appropriate policies to foster financial stability, and stimulate financial sector development. Consequently, there has been an increased demand from financial sector authorities in many countries, as well as from the Bank and International Monetary Fund (IMF) staff for information on key issues, and sound practices in the assessment of financial systems, and in the design of policy responses. This Handbook of Financial Sector Assessment is a response to this demand. The Handbook presents an overall analytical framework for assessing financial system stability and developmental needs, providing broad guidance on approaches, methodologies, and techniques of assessing financial systems. Although the Handbook draws substantially on Bank and IMF experience with the financial sector assessment programs (FSAPs), and from the broader policy and operational work in both institutions, it is designed for generic use in financial sector assessments, whether conducted by country authorities themselves, or by Bank and IMF teams. It is, therefore, hoped the Handbook will serve as an authoritative source on the objectives, analytical framework, and methodologies of financial sector assessments, as well as a comprehensive reference book for training on the techniques of such assessments.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498368190 Total Pages :42 pages Book Rating :4.4/5 (983 download)
Book Synopsis South Africa by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book South Africa written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-03-03 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis South Africa: Financial Sector Assessment Program-Technical Note on Systemic Risk Oversight and Macroprudential Policy by : International Monetary
Download or read book South Africa: Financial Sector Assessment Program-Technical Note on Systemic Risk Oversight and Macroprudential Policy written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-17 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Africa has made significant progress in strengthening its macroprudential policy framework and foundations since the 2014 FSAP. Institutional arrangements were overhauled by the 2017 Financial Sector Regulations Act that, among others, introduced the current ‘Twin Peaks’ structure, provided SARB with a strong financial stability mandate, and sought to foster interagency coordination and collaboration (including via the establishment of the Financial System Council of Regulators. As a result, South Africa has a hybrid macroprudential policy framework that combines a ‘strong’ decision maker in the SARB Governor, but that is importantly supported by an advisory committee structure, fostering effective cooperation and coordination. Systemic risk monitoring has also been enhanced and some macroprudential policy tools phased-in.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1484347080 Total Pages :71 pages Book Rating :4.4/5 (843 download)
Book Synopsis Namibia by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Namibia written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2018-03-15 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper assesses the stability of Namibia’s financial system. Macrofinancial vulnerabilities have built up over a period of rapid economic growth in Namibia, and the financial cycle has now turned down. The sovereign debt/GDP ratio has nearly doubled since 2014 which has reinforced the already strong bank-sovereign link. The rapid rise in housing prices and household debt, banks’ large exposure to mortgages, and banks reliance on wholesale funding are sources of concern. A major decline in real estate prices would adversely affect bank capital and profitability. Financial sector oversight has been strengthened significantly since the 2006 Financial System Assessment Program, but further upgrades are needed.
Book Synopsis South Africa: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management by : International Monetary
Download or read book South Africa: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-17 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note sets out the findings and recommendations of the Financial Sector Assessment Program (FSAP) for South Africa on financial safety net and crisis-management arrangements. It primarily focuses on the arrangements for early intervention, recovery, resolution, and financial safety nets for banks in South Africa. To a lesser extent, the note also addresses issues relating to recovery and resolution applicable to insurers and Financial Market Infrastructure (FMI).
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498308198 Total Pages :44 pages Book Rating :4.4/5 (983 download)
Book Synopsis South Africa by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book South Africa written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-03-03 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note discusses stress testing (ST) results for the financial system of South Africa. The bank STs suggest that banks have adequate capital to withstand severe shocks, but need larger liquidity capacity to meet regulatory requirements. Even in the severe scenario in which GDP falls for three consecutive years, banks’ capital buffers seem sufficient, although the impact of a large default could be significant. Banks also appear resilient to market risks in both the trading and banking books. Some banks, however, would have difficulty meeting the Liquidity Coverage Ratio without the Committed Liquidity Facility of the South African Reserve Bank.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1475514212 Total Pages :47 pages Book Rating :4.4/5 (755 download)
Book Synopsis Morocco by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book Morocco written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2016-02-08 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper assesses financial sector vulnerabilities, the policy oversight framework, bank resolution, and financial safety nets. The assessment is intended to help Moroccan government identify key sources of systemic risk in the financial sector and implement policies to enhance its resilience to shocks and contagion. Since the 2007 Financial Sector Assessment Program update, Morocco's financial system has grown in size and complexity, with increased links between the banking and insurance sectors and a significant expansion into sub-Saharan Africa. Although banks are adequately capitalized and profitable, with stable funding, they are vulnerable to large corporate defaults and deposit withdrawals. But the new banking law has helped in strengthening the banking sector.
Book Synopsis South Africa: Financial Sector Assessment Program-Technical Note on Banking Regulation and Supervision by : International Monetary
Download or read book South Africa: Financial Sector Assessment Program-Technical Note on Banking Regulation and Supervision written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-17 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt: The implementation of a twin peaks model represents a significant change to the South African financial supervisory architecture. The Prudential Authority (PA), operating within the administration of the South African Reserve Bank (SARB), is responsible for promoting and enhancing the safety and soundness of financial institutions that provide financial products and securities services. A separate authority, the Financial Sector Conduct Authority2 (FSCA), is responsible for market conduct regulation and supervision. The introduction of the twin peaks architecture was motivated by a need to increase the robustness of the financial sector regulatory and supervisory system, reinforce financial stability, improve protection of customers, and enhance cooperation among the regulators.
Book Synopsis Morocco by : International Monetary Fund
Download or read book Morocco written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-07-17 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial System Stability Assessment of Morocco reviews the reform program that is aimed at establishing a modern, market-oriented financial system that optimizes the mobilization of savings and the allocation of financial resources. It reviews the modernization of the banking sector and the development of competition within the sector, development of financial markets, and removal of constraints on financial system activity. It also provides reports on the Observance of Standards and Codes on Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498393284 Total Pages :44 pages Book Rating :4.4/5 (983 download)
Book Synopsis South Africa by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book South Africa written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-03-03 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note analyzes over-the-counter (OTC) derivatives market reforms in South Africa and identifies vulnerabilities that may potentially impact financial stability. South Africa is committed to reform its OTC derivatives market to reduce vulnerabilities and increase transparency. Reforms are being implemented through the Financial Market Act and Regulations for banks, reflecting the Basel III capital requirements. Swift progress on the consultation and issuance of FMA regulations, trade repository regulations, and related notices are warranted to proceed with reforming the OTC derivatives market. Secondary legislation still needs to be finalized and will contain requirements for financial market infrastructures.
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498364454 Total Pages :137 pages Book Rating :4.4/5 (983 download)
Book Synopsis South Africa by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book South Africa written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-03-03 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Detailed Assessment of Observance on the Insurance Core Principles on South Africa. Insurance regulatory and supervisory regime in South Africa is in transition. Currently, the Financial Services Board (FSB-SA) regulates the nonbanking financial services industry, including the insurance sector, in South Africa. With the goal of achieving a safer financial sector to serve South Africa better, the government has proposed major changes in the financial sector. The four policy objectives are: financial stability, consumer protection and market conduct, financial inclusion, and combating financial crime. Market realities in the insurance sector pose significant regulatory challenges, which are well recognized by the authorities.
Book Synopsis South Africa by : International Monetary Fund
Download or read book South Africa written by International Monetary Fund and published by . This book was released on 2015 with total page 45 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :International Monetary Fund. Monetary and Capital Markets Department Publisher :International Monetary Fund ISBN 13 :1498395511 Total Pages :137 pages Book Rating :4.4/5 (983 download)
Book Synopsis South Africa by : International Monetary Fund. Monetary and Capital Markets Department
Download or read book South Africa written by International Monetary Fund. Monetary and Capital Markets Department and published by International Monetary Fund. This book was released on 2015-03-03 with total page 137 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses key findings of the Detailed Assessment of Observance on the Insurance Core Principles on South Africa. Insurance regulatory and supervisory regime in South Africa is in transition. Currently, the Financial Services Board (FSB-SA) regulates the nonbanking financial services industry, including the insurance sector, in South Africa. With the goal of achieving a safer financial sector to serve South Africa better, the government has proposed major changes in the financial sector. The four policy objectives are: financial stability, consumer protection and market conduct, financial inclusion, and combating financial crime. Market realities in the insurance sector pose significant regulatory challenges, which are well recognized by the authorities.
