FOOTNOTES
HILARY JOFFE: New global regulations will make banking much less sexy, but a whole lot safer
Making sure banks are managed and funded in a way that ensures they constantly justify that trust is essentially what banking regulators do
Reserve Bank deputy governor and registrar of banks Kuben Naidoo told the story last week of the time he quoted the well-known line about how banking must be the most regulated sector on the planet – but was sharply corrected by an airline industry person who said banking came second to aviation. It might make an interesting, if arcane debate, but the point is that banking is certainly one of the most heavily regulated industries on the planet, especially in the wake of the 2008-09 global financial crisis. Naidoo, who was launching the annual report of the bank supervision department last week, makes no apologies. The banking sector has the potential to do great damage to people’s lives and the economy, he notes, and it is based on an exceedingly fragile foundation: trust. Making sure banks are managed and funded in a way that ensures they constantly justify that trust is essentially what banking regulators do. The annual report of bank supervision department provides a macrolevel v...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.