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South African Reserve Bank

International Responsibilities 

South Africa is an active participant on various international standard setting bodies and forums and it is therefore important for the country to comply, as far as possible, with best practices and standards.
The Financial Stability Board promotes 12 key financial and economic standards which are determined by various international bodies. These standards are globally accepted as important for contributing to sound, stable and well functioning financial systems.
The Bank uses these key standards as the basis to evaluate the robustness of financial system infrastructure. The key standards cover the following areas:
Monetary and Financial policy transparency
Fiscal transparency
Data dissemination and Data Compilation
Corporate governance
Banking supervision
Securities regulation
Payment and settlement
Market integrity
Insurance regulation
In addition, independent authorities such as the World Bank, the International Monetary Fund (IMF) and the Financial Action Task Force on Money Laundering (FATF) also conduct assessments of compliance on a regular basis. South Africa is compelled to participate in these assessments as part of its G20 membership commitments.
The Governor of the Bank participates as a full member in the BIS bi-monthly meetings of Governors.
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