The international response Various international standard-setting bodies, including the G-20 and the Financial Stability Board (FSB), have made significant progress in developing and promoting the implementation of enhanced regulatory standards to increase the resilience of the financial sector to shocks.
2  BIS central bankers’ speeches  South Africa’s own regulatory framework is undergoing significant changes as a result of this response, with the introduction of Basel III, … (SAM), over-the-counter (OTC) derivatives market reforms and the Twin Peaks regulatory framework, to name but a few.