This means that the SSM will not accept empty shells, neither from incoming nor from outgoing banks. A third country branch will not be allowed to perform central functions for its SSMdomiciled group. And any outsourcing must not hamper the efficient and effective supervision of SSM entities. Not all SSM banks are currently fully compliant with the SSM’s respective supervisory expectations.
The exchange value of the rand remains firm, and the improved foreign exchange reserve position could contribute to rand strength and stability. In general most factors favour a containment of inflation within the target range, and market participants also seem to be scaling down inflation expectations.