It is important to stress that, without being complacent, the South African banking system remains sound and well capitalized. The South African authorities have not had to assist any bank, nor provide liquidity to prop up the system.
The anger that has been exhibited against the banking sector in various countries, for example the on-going “Occupy Wall Street” campaign, is indicative of a lack of trust in the financial  BIS central bankers’ speeches  1  system, and the recent revelations of Libor fixing and allegations of possible money laundering and fraudulent activities reinforce that lack of trust.