South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation
This assessment found South Africa s regulatory system to be fundamentally sound and compliant with international standards. Banking supervision has been effective and has helped limit the impact on the financial sector of the global financial cris...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
| Published: |
Washington, DC
2013
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2010/10/16303486/south-africa-report-observance-standards-codesbrbanking-supervision-insurance-supervision-securities-regulation http://hdl.handle.net/10986/12520 |
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okr-10986-12520 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO INSURANCE ACCOUNTABILITY ACCOUNTING AGRICULTURAL COMMODITIES ALM ASSET PORTFOLIO ASSET-BACKED SECURITIES AUDIT COMMITTEE AUDITING AUDITORS AUTONOMY BALANCE SHEETS BANK RUN BANK SUPERVISION BANKING ASSETS BANKING SECTOR BANKING SECTOR ASSETS BANKING SUPERVISION BANKING SYSTEM BANKS BIDS BOND BOND ISSUES BOND TRADING BROKER BROKERS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL PLANNING CAPITAL REQUIREMENTS CAPITALIZATION COLLATERAL COLLECTIVE INVESTMENT COMMERCIAL BANKS COMPANY LAW CONSOLIDATED SUPERVISION CONSUMER CREDIT CONSUMER PROTECTION CONTINGENCY PLANNING CONTRACTUAL SAVINGS COOPERATIVE BANKS CORPORATE GOVERNANCE COUNTRY RISK CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT RATING CREDIT RATING AGENCIES CREDIT RISK CREDIT RISK MANAGEMENT CUSTODY DEBT DEBT INSTRUMENTS DEBT SECURITIES DEFAULT RISK DEPOSIT DEPOSIT INSURANCE DEPOSITORS DERIVATIVE DERIVATIVE PRODUCT DERIVATIVES DERIVATIVES EXCHANGE DERIVATIVES MARKET DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DOMESTIC BOND DOMESTIC BOND MARKET EMERGING MARKET ENFORCEMENT POWERS EQUITIES EQUITY MARKET EQUITY MARKETS EQUITY SECURITIES EXCHANGE CONTROL EXTERNAL AUDITORS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL RISK FINANCIAL SECTOR DEVELOPMENTS FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN ASSETS FOREIGN BANK FOREIGN BANKS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN MARKET FRAUD FREE ASSETS FUTURES FUTURES EXCHANGE GOVERNMENT DEBT HEDGE FUND HEDGE FUNDS HOLDING COMPANIES HOST COUNTRY INFLATION INITIAL PUBLIC OFFERINGS INSIDER TRADING INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE PENETRATION INSURANCE PREMIUMS INSURANCE PRODUCTS INTELLECTUAL PROPERTY INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL DEVELOPMENTS INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTOR PREFERENCES ISSUANCE LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEVY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RISK LIVING STANDARDS LOCAL GOVERNMENT MACROECONOMIC POLICIES MANDATES MARKET CAPITALIZATION MARKET CONDITIONS MARKET DEVELOPMENTS MARKET ENVIRONMENT MARKET RISK MARKET RISKS MARKET STRUCTURE MARKET SURVEILLANCE MARKET TRANSACTIONS MARKET VALUE MATURITY MICRO INSURANCE MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET MORAL SUASION MUTUAL FUNDS NATIONAL CREDIT NATIONAL TREASURY OFFSITE SUPERVISION OPERATIONAL INDEPENDENCE OPERATIONAL RISK OPERATIONAL RISKS PENALTIES PENSION PENSION FUND PENSION FUND ASSETS PENSION FUNDS PENSIONS PORTFOLIOS PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS RATING AGENCIES REDEMPTION REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY OBJECTIVES REGULATORY OVERSIGHT REGULATORY STRUCTURE REGULATORY SYSTEM REGULATORY SYSTEMS RESERVE RESERVES RESOURCE ALLOCATION RETIREMENT RETURN RETURNS RISK MANAGEMENT RISK PROFILE SAVINGS SECONDARY MARKET SECONDARY MARKET TRADING SECURITIES SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATION SETTLEMENT SHAREHOLDER SHAREHOLDERS SOLVENCY SPOT MARKET STOCK EXCHANGE STOCKS SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SUPERVISORY FRAMEWORK SUPERVISORY POWERS SWAP SYSTEMIC RISK TAX TERRORISM THE SOUTH AFRICAN RESERVE BANK TIER 1 CAPITAL TIER 2 CAPITAL TRADING SYSTEM TRANSFER RISK TRANSFER RISKS TRANSPARENCY TURNOVER USE OF DERIVATIVES VALUATION |
| spellingShingle |
ACCESS TO INSURANCE ACCOUNTABILITY ACCOUNTING AGRICULTURAL COMMODITIES ALM ASSET PORTFOLIO ASSET-BACKED SECURITIES AUDIT COMMITTEE AUDITING AUDITORS AUTONOMY BALANCE SHEETS BANK RUN BANK SUPERVISION BANKING ASSETS BANKING SECTOR BANKING SECTOR ASSETS BANKING SUPERVISION BANKING SYSTEM BANKS BIDS BOND BOND ISSUES BOND TRADING BROKER BROKERS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL PLANNING CAPITAL REQUIREMENTS CAPITALIZATION COLLATERAL COLLECTIVE INVESTMENT COMMERCIAL BANKS COMPANY LAW CONSOLIDATED SUPERVISION CONSUMER CREDIT CONSUMER PROTECTION CONTINGENCY PLANNING CONTRACTUAL SAVINGS COOPERATIVE BANKS CORPORATE GOVERNANCE COUNTRY RISK CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT RATING CREDIT RATING AGENCIES CREDIT RISK CREDIT RISK MANAGEMENT CUSTODY DEBT DEBT INSTRUMENTS DEBT SECURITIES DEFAULT RISK DEPOSIT DEPOSIT INSURANCE DEPOSITORS DERIVATIVE DERIVATIVE PRODUCT DERIVATIVES DERIVATIVES EXCHANGE DERIVATIVES MARKET DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DOMESTIC BOND DOMESTIC BOND MARKET EMERGING MARKET ENFORCEMENT POWERS EQUITIES EQUITY MARKET EQUITY MARKETS EQUITY SECURITIES EXCHANGE CONTROL EXTERNAL AUDITORS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL RISK FINANCIAL SECTOR DEVELOPMENTS FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN ASSETS FOREIGN BANK FOREIGN BANKS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN MARKET FRAUD FREE ASSETS FUTURES FUTURES EXCHANGE GOVERNMENT DEBT HEDGE FUND HEDGE FUNDS HOLDING COMPANIES HOST COUNTRY INFLATION INITIAL PUBLIC OFFERINGS INSIDER TRADING INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE PENETRATION INSURANCE PREMIUMS INSURANCE PRODUCTS INTELLECTUAL PROPERTY INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL DEVELOPMENTS INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTOR PREFERENCES ISSUANCE LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEVY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RISK LIVING STANDARDS LOCAL GOVERNMENT MACROECONOMIC POLICIES MANDATES MARKET CAPITALIZATION MARKET CONDITIONS MARKET DEVELOPMENTS MARKET ENVIRONMENT MARKET RISK MARKET RISKS MARKET STRUCTURE MARKET SURVEILLANCE MARKET TRANSACTIONS MARKET VALUE MATURITY MICRO INSURANCE MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET MORAL SUASION MUTUAL FUNDS NATIONAL CREDIT NATIONAL TREASURY OFFSITE SUPERVISION OPERATIONAL INDEPENDENCE OPERATIONAL RISK OPERATIONAL RISKS PENALTIES PENSION PENSION FUND PENSION FUND ASSETS PENSION FUNDS PENSIONS PORTFOLIOS PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS RATING AGENCIES REDEMPTION REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY OBJECTIVES REGULATORY OVERSIGHT REGULATORY STRUCTURE REGULATORY SYSTEM REGULATORY SYSTEMS RESERVE RESERVES RESOURCE ALLOCATION RETIREMENT RETURN RETURNS RISK MANAGEMENT RISK PROFILE SAVINGS SECONDARY MARKET SECONDARY MARKET TRADING SECURITIES SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATION SETTLEMENT SHAREHOLDER SHAREHOLDERS SOLVENCY SPOT MARKET STOCK EXCHANGE STOCKS SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SUPERVISORY FRAMEWORK SUPERVISORY POWERS SWAP SYSTEMIC RISK TAX TERRORISM THE SOUTH AFRICAN RESERVE BANK TIER 1 CAPITAL TIER 2 CAPITAL TRADING SYSTEM TRANSFER RISK TRANSFER RISKS TRANSPARENCY TURNOVER USE OF DERIVATIVES VALUATION World Bank International Monetary Fund South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation |
| geographic_facet |
Africa South Africa |
| description |
This assessment found South Africa s
regulatory system to be fundamentally sound and compliant
with international standards. Banking supervision has been
effective and has helped limit the impact on the financial
sector of the global financial crisis. The assessment
recommended that the bank registrar s remedial powers for
addressing problems in banks should be strengthened and that
a specific regulation for dealing with country and transfer
risk be introduced.The FSB is also undertaking a study of
the OTC market. Limited progress has been made by the
Department of Trade and Industry (DTI) to implement
significant amendments to the Companies Act that were
enacted in 2007 and in 2009. If progress continues to lag,
consideration should be given to reassigning responsibility
for these functions to the Financial Services Board (FSB). |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
World Bank International Monetary Fund |
| author_facet |
World Bank International Monetary Fund |
| author_sort |
World Bank |
| title |
South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation |
| title_short |
South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation |
| title_full |
South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation |
| title_fullStr |
South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation |
| title_full_unstemmed |
South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation |
| title_sort |
south africa - report on observance of standards and codes : banking supervision, insurance supervision, and securities regulation |
| publisher |
Washington, DC |
| publishDate |
2013 |
| url |
http://documents.worldbank.org/curated/en/2010/10/16303486/south-africa-report-observance-standards-codesbrbanking-supervision-insurance-supervision-securities-regulation http://hdl.handle.net/10986/12520 |
| _version_ |
1764420304769122304 |
| spelling |
okr-10986-125202021-04-23T14:03:01Z South Africa - Report on Observance of Standards and Codes : Banking Supervision, Insurance Supervision, and Securities Regulation World Bank International Monetary Fund ACCESS TO INSURANCE ACCOUNTABILITY ACCOUNTING AGRICULTURAL COMMODITIES ALM ASSET PORTFOLIO ASSET-BACKED SECURITIES AUDIT COMMITTEE AUDITING AUDITORS AUTONOMY BALANCE SHEETS BANK RUN BANK SUPERVISION BANKING ASSETS BANKING SECTOR BANKING SECTOR ASSETS BANKING SUPERVISION BANKING SYSTEM BANKS BIDS BOND BOND ISSUES BOND TRADING BROKER BROKERS CAPACITY BUILDING CAPITAL ADEQUACY CAPITAL ADEQUACY RATIOS CAPITAL MARKETS CAPITAL PLANNING CAPITAL REQUIREMENTS CAPITALIZATION COLLATERAL COLLECTIVE INVESTMENT COMMERCIAL BANKS COMPANY LAW CONSOLIDATED SUPERVISION CONSUMER CREDIT CONSUMER PROTECTION CONTINGENCY PLANNING CONTRACTUAL SAVINGS COOPERATIVE BANKS CORPORATE GOVERNANCE COUNTRY RISK CREDIT DEFAULT CREDIT DEFAULT SWAPS CREDIT RATING CREDIT RATING AGENCIES CREDIT RISK CREDIT RISK MANAGEMENT CUSTODY DEBT DEBT INSTRUMENTS DEBT SECURITIES DEFAULT RISK DEPOSIT DEPOSIT INSURANCE DEPOSITORS DERIVATIVE DERIVATIVE PRODUCT DERIVATIVES DERIVATIVES EXCHANGE DERIVATIVES MARKET DISCLOSURE REQUIREMENTS DISCLOSURE STANDARDS DOMESTIC BOND DOMESTIC BOND MARKET EMERGING MARKET ENFORCEMENT POWERS EQUITIES EQUITY MARKET EQUITY MARKETS EQUITY SECURITIES EXCHANGE CONTROL EXTERNAL AUDITORS FINANCIAL CRISIS FINANCIAL HEALTH FINANCIAL INFORMATION FINANCIAL MARKETS FINANCIAL RISK FINANCIAL SECTOR DEVELOPMENTS FINANCIAL SERVICE PROVIDERS FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL STATEMENTS FINANCIAL SYSTEM FOREIGN ASSETS FOREIGN BANK FOREIGN BANKS FOREIGN CURRENCIES FOREIGN CURRENCY FOREIGN EXCHANGE FOREIGN MARKET FRAUD FREE ASSETS FUTURES FUTURES EXCHANGE GOVERNMENT DEBT HEDGE FUND HEDGE FUNDS HOLDING COMPANIES HOST COUNTRY INFLATION INITIAL PUBLIC OFFERINGS INSIDER TRADING INSURANCE INSURANCE COMPANIES INSURANCE COMPANY INSURANCE COMPANY INVESTMENTS INSURANCE PENETRATION INSURANCE PREMIUMS INSURANCE PRODUCTS INTELLECTUAL PROPERTY INTEREST RATE INTEREST RATE RISK INTEREST RATES INTERNAL AUDIT INTERNAL CONTROLS INTERNATIONAL DEVELOPMENTS INTERNATIONAL STANDARDS INVESTMENT BANKS INVESTOR PREFERENCES ISSUANCE LAWS LEGAL AUTHORITY LEGAL FRAMEWORK LEGAL PROTECTION LEGISLATION LEVY LIFE INSURANCE LIFE INSURANCE COMPANIES LIQUIDITY LIQUIDITY MANAGEMENT LIQUIDITY RISK LIVING STANDARDS LOCAL GOVERNMENT MACROECONOMIC POLICIES MANDATES MARKET CAPITALIZATION MARKET CONDITIONS MARKET DEVELOPMENTS MARKET ENVIRONMENT MARKET RISK MARKET RISKS MARKET STRUCTURE MARKET SURVEILLANCE MARKET TRANSACTIONS MARKET VALUE MATURITY MICRO INSURANCE MONETARY FUND MONETARY POLICIES MONETARY POLICY MONEY MARKET MORAL SUASION MUTUAL FUNDS NATIONAL CREDIT NATIONAL TREASURY OFFSITE SUPERVISION OPERATIONAL INDEPENDENCE OPERATIONAL RISK OPERATIONAL RISKS PENALTIES PENSION PENSION FUND PENSION FUND ASSETS PENSION FUNDS PENSIONS PORTFOLIOS PRUDENTIAL REGULATION PRUDENTIAL REGULATIONS PRUDENTIAL REQUIREMENTS RATING AGENCIES REDEMPTION REGULATORY AUTHORITIES REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY OBJECTIVES REGULATORY OVERSIGHT REGULATORY STRUCTURE REGULATORY SYSTEM REGULATORY SYSTEMS RESERVE RESERVES RESOURCE ALLOCATION RETIREMENT RETURN RETURNS RISK MANAGEMENT RISK PROFILE SAVINGS SECONDARY MARKET SECONDARY MARKET TRADING SECURITIES SECURITIES MARKET SECURITIES MARKETS SECURITIES REGULATION SETTLEMENT SHAREHOLDER SHAREHOLDERS SOLVENCY SPOT MARKET STOCK EXCHANGE STOCKS SUBSIDIARIES SUBSIDIARY SUPERVISORY AUTHORITY SUPERVISORY FRAMEWORK SUPERVISORY POWERS SWAP SYSTEMIC RISK TAX TERRORISM THE SOUTH AFRICAN RESERVE BANK TIER 1 CAPITAL TIER 2 CAPITAL TRADING SYSTEM TRANSFER RISK TRANSFER RISKS TRANSPARENCY TURNOVER USE OF DERIVATIVES VALUATION This assessment found South Africa s regulatory system to be fundamentally sound and compliant with international standards. Banking supervision has been effective and has helped limit the impact on the financial sector of the global financial crisis. The assessment recommended that the bank registrar s remedial powers for addressing problems in banks should be strengthened and that a specific regulation for dealing with country and transfer risk be introduced.The FSB is also undertaking a study of the OTC market. Limited progress has been made by the Department of Trade and Industry (DTI) to implement significant amendments to the Companies Act that were enacted in 2007 and in 2009. If progress continues to lag, consideration should be given to reassigning responsibility for these functions to the Financial Services Board (FSB). 2013-02-26T23:32:59Z 2013-02-26T23:32:59Z 2010-10 http://documents.worldbank.org/curated/en/2010/10/16303486/south-africa-report-observance-standards-codesbrbanking-supervision-insurance-supervision-securities-regulation http://hdl.handle.net/10986/12520 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work Africa South Africa |