The current Financial Services Board will be re-named the Financial Sector Conduct Authority (FSCA) and will be responsible for the market conduct of all financial services institutions, including banks. Under the planned twin peaks approach, there will be opportunity to streamline the supervision of the financial system between the SARB and the yet-to-be-formed FSCA.
Policymakers have shown their commitment to take decisive steps in order to make the financial system more stable. Now it is up to the central banks and the other players in macro-prudential supervision to enhance the analytical instruments needed to recognise risks to financial stability earlier and more accurately. Thank you for your attention. BIS Review 136/2009  3