Financial Sector Regulation Act, 2017 (Act No. 9 of 2017)Chapter 2 : Financial StabilityPart 2 : Managing systemic events and risks in relation to systemic events15. Functions of Reserve Bank in relation to systemic events |
| (1) | The Reserve Bank must take all reasonable steps— |
| (a) | to prevent systemic events from occurring; and |
| (b) | if a systemic event has occurred or is imminent, to— |
| (i) | mitigate without delay the adverse effects of the event on financial stability; and |
| (ii) | manage the systemic event and its effects. |
| (2) | When acting in terms of subsection (1), the Reserve Bank must have regard to the need to— |
| (a) | minimise adverse effects on financial stability and economic activity; |
| (b) | protect, as appropriate, financial customers; and |
| (c) | contain the cost to the Republic of the systemic event and the steps taken. |