Progress on the Financial Sector Charter Scorecard in the South African Banking Sector PDF Download
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Author: Aubrey Matlabe
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 200
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Book Description
Author: Aubrey Matlabe
Publisher:
ISBN:
Category : Banks and banking
Languages : en
Pages : 200
Get Book Here
Book Description
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498368190
Category : Business & Economics
Languages : en
Pages : 42
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Book Description
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.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 49
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Book Description
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.
Author: Nthabiseng Weeto
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
The South African banking sector has experienced some progress in implementing employee transformation over the past two decades since the Employment Equity Act (EEA) was promulgated. The progress is somewhat evident in the junior, middle management and the placement of women but deteriorates with seniority, with a wide gap in the top three occupational levels within the banking sector. Despite legislation including the bank committed targets in the Financial Sector Charter, the banks have not met the prescribed targets and the progress in creating a diverse workforce across all occupational levels has been slow and uneven. The aim of this study was to identify the barriers that influence transformation implementation within the banking sector in South Africa, with the aim of gaining new insights into this important national agenda. Identifying the barriers, given the seemingly slow progress, could assist Human Resources practitioners, managers and leaders in creating new strategies that will ensure a more accelerated transformation implementation process within the banking sector. An exploratory qualitative research method was adopted with the aim of identifying and gaining a deeper understanding into the barriers to transformation within the banking sector. Thirteen semi-structured, in-depth interviews were conducted with Human Resource Executives, Executive Heads of Business units, Senior Managers, Middle and Junior Managers as well as Recruitment Managers within four of South Africa's major banks. A thematic analysis was conducted to gain a deeper understanding of transformation barriers in the banking sector. The key findings of this study identified thirteen main barriers to transformation implementation within the South African banking sector. The barriers were linked to lack of leadership commitment, a a♯22́Ơ℗−transformation resistant' organisational culture, a lack of shared understanding and engagement on transformation, negative perceptions amongst employees, inconsistencies in Human Resources transformation implementation processes and an overall lack of coordination, integration and focus in the transformation implementation. Furthermore, the research culminated in a a♯22́Ơ℗−Transformation Implementation Model' that can be used by HR practioners to accelerate transformation implementation in the workplace.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498395511
Category : Business & Economics
Languages : en
Pages : 137
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Book Description
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.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498364454
Category : Business & Economics
Languages : en
Pages : 137
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Book Description
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.
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
ISBN: 1498393284
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
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: South Africa. Department of Trade and Industry
Publisher:
ISBN:
Category : Affirmative action programs
Languages : en
Pages : 31
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Book Description
Author: Mr. Heiko Hesse
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 21
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Book Description
Globally, financial institutions have increased their holdings of domestic sovereign debt, tightening the linkage between the health of the financial system and the level of sovereign debt, or the “financial sector-sovereign nexus,” during the ongoing COVID-19 pandemic. In South Africa, the nexus is still relatively moderate, albeit rising, and the increased focus of the Prudential Authority on the associated risks provide reassurance. Options to mitigate such risks through the use of regulatory measures can be explored. However, absent the necessary fiscal consolidation and structural reforms, risks from the nexus to both the financial system and the sovereign will increase.
Author: International Monetary
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 64
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Book Description
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.
