South Africa : : Financial System Stability Assessment

• Record Nr.: UNINA9910787354203321
• Pubbl/distr/stampa: Washington, D.C. : , : International Monetary Fund, , 2014
• ISBN: 1-4983-2719-2; 1-4755-4036-1
• Descrizione fisica: 1 online resource (105 pages) : illustrations (chiefly color)
• Collana: IMF Staff Country Reports
• Soggetti: Monetary policy - South Africa; Finance - South Africa; Fiscal policy - South Africa; Risk management - South Africa; Banks and Banking; Finance: General; Industries: Financial Services; Banks; Depository Institutions; Micro Finance Institutions; Mortgages; Financial Institutions and Services: Government Policy and Regulation; Pension Funds; Non-bank Financial Institutions; Financial Instruments; Institutional Investors; Financial Institutions and Services: General; Banking; Finance; Financial services law & regulation; Insurance companies; Financial sector; Stress testing; Liquidity requirements; Financial institutions; Financial services; Nonbank financial institutions; Financial sector policy and analysis; Economic sectors; Banks and banking; Financial services industry; Financial risk management; State supervision; South Africa
• Lingua di pubblicazione: Inglese
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Note generali: Bibliographic Level Mode of Issuance: Monograph
• Sommario/riassunto: 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.