The SARB’s financial stability mandate includes the responsibility to manage systemic events. The FSR Act requires the SARB to take action to prevent systemic events and, if a systemic event has occurred, to take reasonable steps to mitigate the impact on financial stability.
The FSRA also designates the SARB as the Resolution Authority responsible for managing designated institutions that has failed, or that are likely to fail. As Resolution Authority, the SARB is required to develop resolution plans for designated institutions and take the necessary steps to improve their resolvability. To read more click here Resolution Authority