In the context of what was happening globally, and as part of the normal governance arrangements in the SARB, various collaborative initiatives between the SARB and other local financial market participants were undertaken in recent years to establish the extent to which South Africa’s main overnight and term interest rate benchmarks remain accurate, reliable, and representative of the economic realities of the underlying interest they measure.
Barclays in Africa was a successful story of over 100 years which is about to end not because it was not profitable – Barclays Africa generated nearly £ billion profit before tax in 2015 – but because, according to its Group CEO, of increased CET1 requirements by the UK regulatory authority, GSIB Buffer, TLAC, and the UK Bank Levy.