The Fed's guidance on consolidated supervision also provides more-explicit directions for supervisory staff for evaluating the capacity of a banking organization to measure and manage risks across the entire firm.
South Africa has been able to benefit from these favourable developments and we have seen significant shift in trade patterns in recent years. In 2007, 38 per cent of South African manufactured exports went to Europe, with 25 per cent going to Africa. By 2012 the picture had reversed, with 25 per cent going to Europe, and 38 per cent going to Africa.