Page 39 - SARB Strategic Plan 2020-2025

Key outcomes over three horizons Horizon 1 and 2 Horizon 3
(the year 2025)
• Implement the resolution framework
• Designate insurers as SIFIs
• • • Implementation of a a a a reformed Jibar and other reference rates
Targeted communication for different audiences on on monetary policy
Improve the data collection life cycle
• CODI established governance in place
• Further develop financial sector stress-testing
• (2021–2024)
• Replacement of Jibar • Extend the measurement and analysis
of the economy
• Implementation of the new MPIF • Consistent high- quality statistics and presentations to the MPC
2025 • Tested efficacy of the macroprudential frameworks
Safe and sound financial institutions and MIs
• • Frameworks for benchmarking and assessing the effectiveness of macroprudential policy
Embedding the the PFMIs and and the the aligned and and coordinated frameworks
with the Prudential Authority
• Modernisation of the NPS
• Degree and incidence of regulation is appropriate for the SA economy
and changing financial sector • Ongoing currency supply- chain optimisation
• DIS IT systems completed
• Effective coordination across all
policy
areas in in monitoring vulnerabilities
and responding to external shocks
• Develop new frameworks
and fit-for-purpose toolkits
• Develop a a a framework
for the utilisation of FX FX reserves and FX FX policy
• National Payment System Bill is passed
• Establish and and embed the Prudential Authority
and and its
operating model
• Implement the triparty collateral system • Implement a solution to to monitor FX markets
• Finalise the cash centre design model
and initiate the construction
• Issue new and optimised banknote and coin series
frameworks
for FS categories
• Implement the current regulatory portfolio (i e e e e e e e e e banks MIs
insurers cooperative financial institutions) • • Embed the optimal FX reserves strategy
• Data-
sharing and collaboration model
to review macro- prudential indicators of vulnerability
• Develop the optimal FX reserves strategy
The Fintech Unit is leveraged to make sense of the risks around financial market innovation
• Review the the policy
agenda as as well as as the the regulatory and supervisory
• Enhance the current regulatory and supervisory
practices
Develop a a framework
to to monitor financial market • functioning
• Implement fee structures in in the cash industry
• Investigate the feasibility of a a a CBDC
SFA 5 Ensure the cost- effective availability and integrity of the currency SFA 3
Promote and and enhance the safety soundness and and and integrity of regulated financial institutions and and market infrastructures
• Review and enhance the capital flow management policy
• A fully functional and utilised Innovation Hub (cross-SFAs)
SFA 4 • A feasibility study on the triparty collateral system Enhance South Africa’s resilience to external shocks
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