Nonetheless, these general positives help to maintain South Africa’s status as an upper-middle-income country, a member of the G2010, and a member of the BRICS11 grouping. Many other countries do worse.
We are big fans of a leverage limit here in Canada. We had one going into the crisis, and it served us well. But as the leverage ratio is finalized by the Basel Committee on Banking Supervision over the course of next year, it will be important to get its calibration right.