In the past year, the South African Reserve Bank held discussions with the banking industry on the stress-testing frameworks it implemented, said Tito Mboweni, the governor of the central bank.

Mboweni said the central bank also continued to develop its own internal stress-testing expertise and methodology to facilitate the effective monitoring of the stress-testing frameworks of banks.

He also said the central bank initiated a process for the introduction of a new series of banknotes and coin