An address by Lesetja Kganyago, Governor of the South African Reserve Bank, at the Centre for Education in Economics (CEEF) Africa Johannesburg, 28 September 2022 Reflections of macroeconomic policy since 1995, from NICE to VICE – and back again? Good evening  Thank you for inviting me to speak today. This is an unusually challenging moment for the global macroeconomy.
BIS Review 95/2008  1  I should emphasize that even as we make room for innovations in the banking system, we make a point to balance this by instituting prudent standards for the conduct of microfinance operations. Among others, this includes prescribing the use of portfolio-at-risk to monitor and measure portfolio quality. Likewise, we have instituted reporting requirements for banks with microfinance operations.