South Africa: Financial System Stability Assessment

December 11, 2014

Preview Citation

Format: Chicago

South Africa: Financial System Stability Assessment, (USA: International Monetary Fund, 2014) accessed November 8, 2024

Summary

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.

Subject: Banking, Economic sectors, Financial institutions, Financial sector, Financial sector policy and analysis, Financial services, Insurance companies, Liquidity requirements, Nonbank financial institutions, Stress testing

Keywords: Africa, Asset, Bank, Bank conduit, Banking assets, Capital ratio, Commercial paper, Coverage ratio, CR, Financial sector, Financial system, Global, Information technology platform, Insurance companies, ISCR, Nonbank financial institutions, SARB, Stress testing, Unit trust

Publication Details

Pages:

104
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/340
Stock No:

1ZAFEA2014003
ISBN:

9781484372005
ISSN:

1934-7685

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