Other initiatives include the introduction of a Global Legal Entity Identifier system and the adoption of the Committee on Payment and Market Infrastructures (formerly CPSS) and International Organization of Securities Commissions (IOSCO) Principles for Financial Market Infrastructure. The South African financial system continues to be resilient in the wake of a volatile and uncertain global environment and a degree of domestic economic concerns.
Although the current conjuncture is uncertain and several challenges remain, the financial system remains sound. I have briefly highlighted the key issues raised in the Financial Stability Review. More detailed analyses are available in the publication itself, and some will be covered in the presentation by my colleague, Dr Hendrik Nel, highlighting some of the analyses that were conducted by the Financial Stability Department.