Forget that grey list, SA has bigger financial ‘fish’ to fry
12 December 2022
As South Africans fret over whether or not the country is added to the global Financial Action Task Force (FATF) grey list, our regulatory authorities are hard at work to ensure the integrity of our financial system. The latest Financial Stability Review (FSR), published by the South African Reserve Bank (SARB) for the six months to end-October 2022, concludes that the domestic financial system [remains] resilient despite highly challenging global and domestic conditions. According to the SARB, “prudentially regulated domestic financial institutions remain resilient, partly owing to their ability to maintain adequate capital buffers to absorb the impact of shocks”. The central bank is confident that this outlook will remain unchanged for review’s 12-month forecast period, until end-November 2023.
