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Speech by Lesetja Kganyago Governor of the South African Reserve Bank at the launch of the Corporation for Deposit Insurance
Published Date:
2024-04-25
Last Modified Date:
2024-04-25, 04:50 PM
Category:
Speeches > Speeches by Governors | Media > Media Releases | What's New
Thank you for joining us today, to mark the launch of South Africa’s deposit insurance scheme.
The big picture is that South Africa is joining a very common practice, globally, of offering deposit insurance. It is a universal business model of banks to fund their assets with borrowed money, and so depositors are actually investors in banks. Usually, we say investors must accept the risks of making investments. But deposits are special, and most governments protect them.