We are committed to ensuring that the supervision of smaller institutions is tailored appropriately to their risk. Strengthening the regulation and supervision of the largest financial institutions Regulatory framework The regulatory reforms we have adopted since the crisis have been designed to address the risks posed by large financial institutions in one of two ways.
A few select observations regarding some of the more tangible advantages that have been derived from the new framework in South Africa can nevertheless be made at this stage. Inflation targeting has significantly strengthened the Reserve Bank's mandate to focus on price stability. Monetary policy transparency, accountability and communication have been mutually reinforced with inflation targeting.