The objective of this advisory committee is to support the SARB in protecting and enhancing financial stability and to facilitate cooperation and coordination of action among the financial sector regulators and the SARB in financial stability matters. Within the SARB, the formulation of macroprudential policy is the responsibility of the FSC.
While monetary, macroprudential and microprudential policy are all separate functions within the SARB, their coordination is facilitated by being within the same institution and through some degree of overlapping membership of committee structures. 4  Goodhart, C. (2010). ‘The changing role of central banks’. Bank for International Settlements Working Papers No. 326.