As you know, this is the strategy followed by the European and national authorities, combined with some moral persuasion to abstain from excess deleveraging. And it looks like this strategy is going to be successful. At least this is what the capitalization plans of banks indicate. Most of them intend to adjust their liability side to a large extent, not their asset side.
The role of the SARB The South African Reserve Bank mandate as set out in the Constitution is to protect the value of the currency in the interest of balanced and sustainable economic growth in South Africa. Price stability is generally viewed as a critical element of the foundation of an economy and contributes towards achieving economic growth, development and employment creation.