3.2  There are currently 18 registered banks, two registered mutual banks and 15 registered branches of international banks in South Africa, with combined assets of just below R2 trillion. As has been pointed out elsewhere 1 - this banking sector is highly integrated with the bond and equity markets – eight of the banks acting as primary dealers in the bond market.
But the job needs be finished at the global level. The financial system is global and so should be the rules that govern it. You cannot enjoy fresh air on your patch of land while there is a fire raging on your neighbour’s – sooner or later the wind will blow smoke and sparks over the fence.