2  See also L. Papademos, “Financial stability and macro-prudential supervision: objectives, instruments and the role of the ECB”, Speech of 4 September 2009. BIS Review 166/2009  3  Almost everywhere in the world, central banks are seen as playing, or called to play, an important role in macro-prudential supervision. In my view there are very good reasons for that.
The South African Reserve Bank remains committed to providing a regulatory environment that will allow South African banks to adopt international best practice. South Africa’s financial sector is held in high regard, and the introduction of Basel II will enable South African banks to maintain, if not strengthen, their international standing, to the benefit of the economy. 4.