Download or read book Banking Regulatory and Market Framework in South Africa written by Tankiso Moloi and published by . This book was released on 2014 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examined and discusses banking regulation and market framework in the South African context. In South Africa, the principal legal instrument which seeks to achieve credibility, stability and economic growth, is the Banks Act, No. 94 of 1990 (the Banks Act). Further, South Africa has 17 registered banks, two mutual banks, 12 Branches of international banks in the Republic of South Africa, 43 representative offices and 15 controlling companies. The dominant banks in the South African banking landscape where outlined as the Standard Bank of South Africa, ABSA Bank, FirstRand Bank and Nedbank. It was observed that the reason for the increased market share by the big four banks in South Africa was seen as caused by the decline of confidence levels in the small banks as a result of Saambou's Bank failure. Due to the dominance of four banks, using the HHI it was exhibited that the level of concentration in the South African banking sector was high at 0.187 in 2011. This paper concluded that South Africa has a developed and well regulated banking system which compares favourably with regulatory environment applied by the developed countries. However, it was cautioned that further regulation such as the recently announced 'Twin Peaks' approach to financial regulation could result in unintended consequences, such as driving a larger share of activity into the shadow banking sector.
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.
Download or read book Securities and Capital Markets Regulation in South Africa written by C. King Chanetsa and published by BRILL. This book was released on 2019-08-26 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Securities and Capital Markets Regulation: A Contemporary View, the author takes a critical look at regulation of the sector in South Africa primarily in view of efforts to accommodate international standards, policy considerations, and the transition to a new regulatory framework (Twin Peaks).
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.
Download or read book Banking Regulation in Africa written by Folashade Adeyemo and published by Routledge. This book was released on 2021-12-28 with total page 148 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is little literature on the development of banking regulation in Nigeria, or the scope of powers of the Central Bank of Nigeria, which is its core banking sector regulator. The critical impetus of this book is to contribute to the literature of this area, with a detailed exploration of the Nigerian regulatory architecture. In addition, the book also engages in a comparative analysis with two emerging economies in Africa: South Africa and Kenya. It also considers the UK and the US as comparator jurisdictions in light of their regulatory responses to the global financial crisis of 2008. This book contributes to the ongoing discourse in this area by exploring, in detail, the theoretical underpinnings of regulation and supervision, to determine whether there is an understanding of what constitutes effective regulation in these jurisdictions. Given that Nigeria is the core jurisdictional focus, a historical account of banking exchanges from the pre-colonial era to more recent times is provided. Offering an understanding of how political, local and economic settings, in conjunction with the theories of regulation, have impacted and influenced regulatory development in Nigeria, the book engages in an examination of Nigeria’s historical experiences with bank failures, including the banking crisis it experienced in 2008. The newly enacted Banks and Other Financial Institutions Act 2020 is also explored as part of this discourse. Through a critical analysis of the law, the book demonstrates that the Nigerian regulator has historically adopted a reactionary strategy, instead of a proactive and pragmatic approach, which is imperative for an effective regulatory regime. The outcome of this analysis is that there are lessons to be learned, and proposals are discussed in order to rethink the act of banking regulation.
Download or read book South Africa Banking Financial Market Handbook Volume 1 Strategic Information and Important Regulations written by IBP, Inc and published by Lulu.com. This book was released on with total page 333 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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.
Download or read book The Role of Financial Services Conduct Authority and Competition Commission in South African Financial Markets written by Veliswa Ntatiso and published by GRIN Verlag. This book was released on 2023-10-18 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2022 in the subject Business economics - Investment and Finance, grade: 82%, , course: Financial Economics, language: English, abstract: This paper deals with an in-depth examination of the financial industry in South Africa, a sector recognized as one of the most developed globally and with significant ties to the country's economic growth. The banking sector, in particular, is characterized by a concentration of power within a few major institutions, responsible for more than 90% of the industry's revenue. However, this robust financial system faces several challenges, including high financing costs, limited financial inclusivity, susceptibility to collusion, and a lack of innovation, all of which contribute to a relatively low level of competitiveness in the market. The paper's primary aim is to investigate the roles and functions of two key entities, the Financial Institutions Regulatory Authority and the Competition Commission, within the South African financial markets. This investigation occurs in the context of regulatory changes, specifically the implementation of the Financial Sector Regulation (FSR) Act, which has expanded the regulatory reach of the Financial Sector Conduct Authority (FSCA). The FSR Act now covers financial products and services not previously regulated by the Financial Services Board (FSB), encompassing areas such as banking, loans, and foreign currency transactions. A comprehensive research methodology is adopted, incorporating both qualitative and quantitative approaches. It scrutinizes the dynamics of the South African banking sector, evaluating the impact of these regulatory changes on market competition and consumer protection. Additionally, the paper explores the extent to which these regulatory developments contribute to enhancing access to financial services and facilitating the restructuring of the financial industry.
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 196 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book South Africa written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-12-08 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: In South Africa, long-term insurers experienced some strains during the financial crisis, but there were no crisis-related failures. The capital markets suffered sharp declines but no systemic failures. The three standards assessments have found the regulatory system fundamentally sound. The National Treasury has authority to set and oversee national regulatory policy. Banking supervision is effective and has contributed to reducing the impact on the financial sector of the global financial crisis. Insurance regulation is sound and while the assessment identifies areas for development, these are being addressed.
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.
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.
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.
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.
Download or read book South Africa written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-12-08 with total page 53 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking supervision in South Africa has been effective in reducing the impact of the global financial crisis. The banks have remained profitable, and capital adequacy ratios have been maintained well above the regulatory minimum. The supervisory and regulatory framework has been strengthened substantially. A specific regulation dealing with country and transfer-risk regulation should be drafted. The registrar’s remedial powers in banks should be strengthened. The Bank Supervision Department should expand its expertise in specialized areas such as operational risk and countering the abuse of financial services.
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 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Note discusses findings and recommendations made in the Financial Sector Assessment Program (FSAP) for South Africa in the areas of anti-money laundering and combating the financing of terrorism (AML/CFT). The AML/CFT supervisory framework for the financial sector, in particular the banking sector, has been strengthened by the amended Financial Intelligence Center (FIC) Act that took effect in 2010 and the creation of the AML/CFT supervision team within Banking Supervision Department (BSD) of the South African Reserve Bank (SARB). Significant technical deficiencies remain, such as the absence of requirements to identify and verify the identity of beneficial owners of customers and to apply enhanced diligence to high-risk situations.
Download or read book The Mechanics of the South African Financial System written by H. B. Falkena and published by . This book was released on 1986 with total page 596 pages. Available in PDF, EPUB and Kindle. Book excerpt:
