Some countries have opted for the “twin-peaks” model which relies on two separate regulators: prudential regulation and consumer protection. These include Australia, the Netherlands, South Africa and the United Kingdom. For this reason, the Honourable Minister of Finance and the Economy in his Budget 2013/2014 presentation indicated that the issue of the single financial regulator would be deliberated upon in the coming year.
76)  BIS Review 54/1997  -4-  Without going into the details, in the South African system the Reserve Bank uses its open market operations and other instruments of monetary policy to force banking institutions to borrow more from the discount window whenever it is regarded as necessary to apply a more restrictive policy.