While the enabling legislation for “Twin Peaks” is still in the process of being finalised, some of the support measures recently announced by the SARB for African Bank were informed by the principles contained in the G20/FSB Key Attributes for Effective Resolution Regimes, which are expected to feature in the new legislation.
Allow me to make a brief comment about the measures announced by the SARB last Sunday. The legal structure of curatorship will facilitate an orderly, structured, and fair approach to addressing the current challenges at African Bank in an effort to secure a viable future on the basis of a transformed business model, while ensuring minimum disruption to our financial and credit markets.