François Groepe: Proposals to establish a deposit insurance scheme for South Africa

Opening remarks by Mr François Groepe, Deputy Governor of the South African Reserve Bank,  at the public workshop on proposals to establish a deposit insurance scheme for South Africa, South African Reserve Bank, Pretoria, 23 August 2017.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

Good afternoon, distinguished guests, ladies and gentlemen.

It gives me great pleasure to welcome you to this workshop on a possible deposit insurance scheme for South Africa. We are privileged to have present here today fellow central bankers, commercial bankers, financial market participants, regulators, public sector representatives, academics, members of the media fraternity, and other staff members of the South African Reserve Bank (SARB). In particular, I would like to extend a very warm welcome to the representatives from the World Bank, which has been very supportive over the past two to three years in the formulation of the proposals that will be discussed today, as well as to the representatives from other central banks in the Common Monetary Area that are present. We hope that this workshop will be the first step in expanding our fruitful cooperation in the area of managing bank failures.