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South Africa : Financial System Stability Assessment.

By: Material type: TextTextSeries: IMF Staff Country ReportsPublisher: Washington : International Monetary Fund, 2014Copyright date: ©2014Edition: 1st edDescription: 1 online resource (105 pages)Content type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781475540369
Subject(s): Genre/Form: Additional physical formats: Print version:: South AfricaDDC classification:
  • 332.152
LOC classification:
  • HJ1471 -- .I58 2014eb
Online resources:
Contents:
Cover -- CONTENTS -- GLOSSARY -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- EXECUTIVE SUMMARY AND OVERALL ASSESSMENT -- FINANCIAL SYSTEM PROFILE -- RECENT DEVELOPMENTS -- RISKS AND VULNERABILITIES -- A. Credit Risks -- B. Systemic Liquidity -- C. Concentration and Interconnectedness -- D. Cross-Border Expansion -- STRESS TESTING RESILIENCY -- A. Banking Stress Tests -- B. Insurance Stress Test -- C. Corporate Stress Test -- STRUCTURAL REFORM TO ENHANCE RESILIENCY -- A. The Twin Peaks Model -- B. Microprudential Framework -- C. Macroprudential Framework -- D. Derivatives Markets Reform -- E. Crisis Management and Bank Resolution -- F. Promoting Competition in the Financial System -- G. Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) -- BOX -- 1. The Intervention of African Bank -- FIGURES -- 1. Features of the Financial System -- 2. SA Financial System Spillover Coefficients -- 3. Recent Economic and Financial Developments -- 4. The Debt Profile -- 5. Scenario-Based STs Results-Aggregate Capital Ratio -- 6. Scenario-Based STs result-Distribution of Capital Ratios -- 7. Liquidity Stress Test: Simulated 30 day Cumulative Cash Flow -- 8. Insurance Stress Test Results -- 9. Interest Coverage Ratios -- TABLES -- 1. Key FSAP Recommendations -- 2: Key Macro Variables -- APPENDICES -- I. Tables and Figures -- II. 2008 Financial Sector Assessment Program -- ANNEX -- I. Report on the Observance of Standards and Codes.
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.
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Cover -- CONTENTS -- GLOSSARY -- A -- B -- C -- D -- E -- F -- G -- H -- I -- J -- K -- L -- M -- N -- O -- P -- R -- S -- T -- EXECUTIVE SUMMARY AND OVERALL ASSESSMENT -- FINANCIAL SYSTEM PROFILE -- RECENT DEVELOPMENTS -- RISKS AND VULNERABILITIES -- A. Credit Risks -- B. Systemic Liquidity -- C. Concentration and Interconnectedness -- D. Cross-Border Expansion -- STRESS TESTING RESILIENCY -- A. Banking Stress Tests -- B. Insurance Stress Test -- C. Corporate Stress Test -- STRUCTURAL REFORM TO ENHANCE RESILIENCY -- A. The Twin Peaks Model -- B. Microprudential Framework -- C. Macroprudential Framework -- D. Derivatives Markets Reform -- E. Crisis Management and Bank Resolution -- F. Promoting Competition in the Financial System -- G. Anti Money Laundering and Combating the Financing of Terrorism (AML/CFT) -- BOX -- 1. The Intervention of African Bank -- FIGURES -- 1. Features of the Financial System -- 2. SA Financial System Spillover Coefficients -- 3. Recent Economic and Financial Developments -- 4. The Debt Profile -- 5. Scenario-Based STs Results-Aggregate Capital Ratio -- 6. Scenario-Based STs result-Distribution of Capital Ratios -- 7. Liquidity Stress Test: Simulated 30 day Cumulative Cash Flow -- 8. Insurance Stress Test Results -- 9. Interest Coverage Ratios -- TABLES -- 1. Key FSAP Recommendations -- 2: Key Macro Variables -- APPENDICES -- I. Tables and Figures -- II. 2008 Financial Sector Assessment Program -- ANNEX -- I. Report on the Observance of Standards and Codes.

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.

Description based on publisher supplied metadata and other sources.

Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2024. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.

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