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

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Bibliographic Details
Author / Creator: Department, International Monetary Fund. Monetary and Capital Markets.
Format: eBook Electronic
Imprint: Washington : International Monetary Fund, 2015.
Series:IMF Staff Country Reports
Local Note:Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2022. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
Online Access:Click to View
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.
Item Description:Description based on publisher supplied metadata and other sources.
Physical Description:1 online resource (197 pages)