Sarb deputy says current ‘implicit’ deposit protection is ‘risky’
South Africa’s resolution framework one step closer to revamp
A deputy governor of the South African Reserve Bank has stood behind plans to create an external deposit insurance scheme, saying the old bailout system is out of date and unsustainable.
“South Africa is currently the only G20 country that does not have an explicit deposit insurance scheme,” deputy governor Francois Groepe said at a public workshop held in Pretoria today (August 24).
Earlier this year, the central bank set out its proposal for a deposit insurance scheme as part of a wider
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