It remains a challenge for the  1  regulator, similarly to the rest of the financial sector, to attract and retain adequately skilled human resources in the current environment of increased regulatory and compliance scrutiny, as the South African Reserve Bank – or SARB – competes with commercial banks for the same set of skills and experience to address the regulatory requirements imposed on banks.
The combination of the new credit, market and interest rate risk in the banking book and liquidity standards, the changes to provisioning, capital buffers as well as the implementation of the total loss-absorbing capital (or TLAC) and resolution frameworks are specific challenges.