Credit code saves banks

Finweek English Edition - - Main stories this week -

WHAT HAP­PENED SOUTH AFRICA’S BANKS were given a re­prieve from a pos­si­ble hike in cap­i­tal re­serve re­quire­ments af­ter draft­ing a credit code of con­duct that would seek to en­cour­age banks to mar­ket credit more re­spon­si­bly. A re­port by the Na­tional Credit Reg­u­la­tor con­cern­ing credit providers was also re­leased. BUSI­NESS DAY said: “…the mar­ket needs watch­ing for signs of stress – when peo­ple start us­ing one form of debt to pay an­other or meet­ing only some of their re­pay­ments each month.” The news­pa­per’s Hil­lary Joffe wrote: “What we still don’t know, and the re­port doesn’t ex­am­ine, is whether there’s in­debt­ed­ness in par­tic­u­lar mar­ket seg­ments and how se­ri­ous the prob­lem is.”


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