The Bank shares this mandate for financial stability of the South African financial system with other stakeholders in the financial and public sectors. National Treasury published a policy document in February 2011 titled A safer financial sector to serve South Africa better, which outlined government’s decision to shift to a Twin Peaks model of financial sector regulation.
The Twin Peaks model of financial regulation represents a move away from a fragmented regulatory approach (based on the institution or activity) towards a regulatory and supervision model based on objectives.