South Africa: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management
IMF Staff Country Reports, June 17, 2022
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- South Africa: Financial Sector Assessment Program-Technical Note on Financial Safety Net and Crisis Management
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Bibliographic details
- Published: June 17, 2022
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400214486.002
Summary
- 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.
- Primary focus: arrangements for early intervention, recovery, resolution, and financial safety nets for banks in South Africa.
- Secondary focus: issues relating to recovery and resolution applicable to insurers and Financial Market Infrastructure (FMI).
- Publication type: IMF Staff Country Reports.
- Publication date: June 17, 2022.
Major findings (scope and focus)
- Focus on early intervention, recovery, and resolution frameworks for banks.
- Coverage extends to recovery and resolution issues for insurers and FMI to a lesser extent.
- The note consolidates FSAP findings relevant to financial safety nets and crisis-management arrangements.
Policy recommendations and implications (as framed by the FSAP)
- Recommendations address strengthening arrangements for:
- Early intervention mechanisms for distressed banks.
- Recovery planning and operational preparedness.
- Resolution frameworks to enable orderly wind-down or restructuring of failed banks.
- Financial safety net provisions to support crisis management.
- Recommendations also consider adaptations for insurers and FMI where recovery and resolution regimes are applicable.
Content in this bundle
- Executive Summary