South Africa Financial System Stability Assessment

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...

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Bibliographic Details
Corporate Author: International Monetary Fund Monetary and Capital Markets Department
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2014
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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651 4 |a South Africa 
653 |a Insurance companies 
653 |a Depository Institutions 
653 |a State supervision 
653 |a Institutional Investors 
653 |a Pension Funds 
653 |a Banks 
653 |a Finance 
653 |a Industries: Financial Services 
653 |a Banks and banking 
653 |a Financial sector policy and analysis 
653 |a Financial institutions 
653 |a Financial services 
653 |a Financial Instruments 
653 |a Micro Finance Institutions 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Mortgages 
653 |a Economic sectors 
653 |a Non-bank Financial Institutions 
653 |a Nonbank financial institutions 
653 |a Financial risk management 
653 |a Banks and Banking 
653 |a Financial Institutions and Services: General 
653 |a Financial services industry 
653 |a Banking 
653 |a Financial services law & regulation 
653 |a Finance: General 
653 |a Liquidity requirements 
653 |a Stress testing 
653 |a Financial sector 
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520 |a 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