The Reserve Bank on the effects of the NCA
14 September 2007
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Business Report‘s Evan Pickworth:
“The South African central bank appeared to make a few telling references to the potential impact of the National Credit Act (NCA) in its quarterly bulletin.
The South African Reserve Bank noted a few times that the Act may be having an effect on a few key components they monitor.
In the introduction it states: “At least initially, the introduction of the NCA from 1 June 2007 did not appear to have much impact on the extension of loans and advances by banks. As the household debt service ratio edged higher, however, signs of moderation in the pace at which the household debt ratio increased were observed”
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