The South African Reserve Bank (SARB) and the Central Bank of Brazil today held a bilateral meeting on the sidelines of the Brics Summit in Durban.
Among the issues discussed at this meeting were the post crisis monetary and financial conditions prevailing in advanced economies and emerging-market economies’ (EME) experience with policy responses including macro-prudential policies.
The two central banks reflected on ways of enhancing the EMEs’ voice in global governance standard-setting bodies such as the Financial Stability Board (FSB) and the International Monetary Fund.
The meeting also discussed the current international financial regulatory reform agenda, in particular exchanged experiences of progress in the implementation of Basel III. Possible unintended consequences of the regulatory reform agenda were also discussed, and how EME’s can address these issues.
The two central banks agreed to hold similar bilateral meetings on a regular basis.
Enquiries:
Hlengani Mathebula
Head: Group Strategy and Communications
Cell: 082 448 9219
Tel: 012 313 4210
