These gaps were confirmed in the findings of the International Monetary Fund (IMF) in its 2014 Financial Sector Assessment Programme (FSAP) for South Africa. Our current framework for dealing with failed financial institutions is fragmented across various pieces of legislation and regulations.
However, those who 4  BIS Review 150/2009  should exit earlier can do so if they are confident that those who are supposed to exit later will do so in the same timely fashion. Furthermore, they want to be sure that the worst of the crisis is over and that concrete actions are being taken to overhaul the financial system.