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25 May 2012
   
 
 
 
 
 
Seni or SA Reserve Bank official Errol Kruger has been appointed registrar of banks, governor Tito Mboweni announced yesterday.

He said the move had the approval of Finance Minister Trevor Manuel.

Kruger, formerly deputy registrar, has been acting as registrar since his predecessor, Christo Wiese, went on pre-retirement leave in July this year.

Kruger joined the central bank 25 years ago and has worked in the bank supervision department for about 17 years.

In a statement, the Reserve Bank said his primary responsibility would be to ensure and promote the safety and soundness of registered banks and banking groups.

He should do this by effectively applying international regulatory and supervisory standards.

"This entails, among other things, ensuring the existence of sound risk management practices, sound corporate governance structures, fit and proper management and financial stability".

The registrar was also responsible for the registration and de-registration of banks, the Reserve Bank said. – Sapa.
Edited by: laurian clemence
 
 
 
 
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