{
  "title": "South Africa: Financial Sector Assessment Program-Technical Note on Banking Regulation and Supervision",
  "publication": "IMF Staff Country Reports, June 17, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/06/16/south-africa-financial-sector-assessment-program-technical-note-on-banking-regulation-and-519725",
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  "summary": "The implementation of a twin peaks model represents a significant change to the South African financial supervisory architecture.",
  "sections": [
    {
      "heading": "Overview and institutional changes",
      "content": "- Implementation of a twin peaks model represents a significant change to the South African financial supervisory architecture.\n- 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.\n- A separate authority, the Financial Sector Conduct Authority (FSCA), is responsible for market conduct regulation and supervision.\n- The introduction of the twin peaks architecture was motivated by a need to:\n  - increase the robustness of the financial sector regulatory and supervisory system,\n  - reinforce financial stability,\n  - improve protection of customers,\n  - enhance cooperation among the regulators."
    },
    {
      "heading": "Key thematic areas covered",
      "content": "- Auditing\n- Bank supervision\n- Corporate governance\n- Economic sectors\n- External audit\n- Financial regulation and supervision\n- International organization\n- Monetary policy\n- Public financial management (PFM)"
    },
    {
      "heading": "Publication identifiers and metadata",
      "content": "- Pages: 49\n- Volume: 2022\n- Issue: 184\n- Series: Country Report No. 2022/184\n- DOI: https://doi.org/10.5089/9798400214578.002\n- Stock No: 1ZAFEA2022007\n- ISBN: 9798400214578\n- ISSN: 1934-7685"
    },
    {
      "heading": "Keywords and geographic scope",
      "content": "- Keywords: Africa, Auditing, Bank supervision, bank supervision department, Corporate governance, External audit, FSAP's finding, Global, H. liquidity risk, IMF-World Bank Financial Sector Assessment Program, staff team of the International Monetary Fund, WB staff\n- Subject: Auditing, Bank supervision, Corporate governance, Economic sectors, External audit, Financial regulation and supervision, International organization, Monetary policy, Public financial management (PFM)\n\nInternational Monetary Fund. Country Report No. 2022/184\n\n---\n\n Content in this bundle\n\n- Executive Summary and Key Recommendations\n  - Executive Summary and Key Recommendations (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Executive Summary and Key Recommendations (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
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    "Published: June 17, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400214578.002",
    "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 Authority (FSCA), is responsible for market conduct regulation and supervision.",
    "The introduction of the twin peaks architecture was motivated by a need to:",
    "Pages: 49",
    "Volume: 2022",
    "Issue: 184",
    "Series: Country Report No. 2022/184",
    "DOI: https://doi.org/10.5089/9798400214578.002",
    "Stock No: 1ZAFEA2022007",
    "ISBN: 9798400214578",
    "ISSN: 1934-7685",
    "Keywords: Africa, Auditing, Bank supervision, bank supervision department, Corporate governance, External audit, FSAP's finding, Global, H. liquidity risk, IMF-World Bank Financial Sector Assessment Program, staff team of the International Monetary Fund, WB staff",
    "Subject: Auditing, Bank supervision, Corporate governance, Economic sectors, External audit, Financial regulation and supervision, International organization, Monetary policy, Public financial management (PFM)",
    "**Executive Summary and Key Recommendations**"
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