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Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)

Chapter 2 : Financial Stability

Part 1 : Powers and functions of Reserve Bank

11. Responsibility for financial stability

 

(1) The Reserve Bank is responsible—
(a) for protecting and enhancing financial stability; and
(b) if a systemic event has occurred or is imminent, for restoring or maintaining financial stability.

 

(2) When fulfilling its responsibility in terms of subsection (1), the Reserve Bank—
(a) must act within a policy framework agreed between the Minister and the Governor;
(b) may utilise any power vested in it as the Republic’s central bank or conferred on it in terms of this Act or any other legislation; and
(c) must have regard to, amongst other matters, the roles and functions of other organs of state exercising powers that affect aspects of the economy.