In South Africa, we have adopted a position similar to that of the Bank of England, where the responsibility for financial stability is given to the central bank overseen by a financial stability committee. This committee considers the stability of the financial system more broadly, rather than regulating and supervising individual banks.
In that case, the end result would have been lowered government dissaving and correspondingly higher national saving. A simple reshuffling from the unified accounts to the lockboxes would not have, in itself, added to government savings; but higher taxes or lower spending would have accomplished that important objective.