Brazil and South Africa agree supervisory co-operation

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The Central Bank of Brazil on July 5 revealed details of a memorandum of understanding (MoU) signed with the South African Reserve Bank (Sarb) aimed at promoting co-operation in banking supervision between the two central banks.

The Brazilian central bank said it viewed co-operation between authorities as essential to supervision and financial stability, adding that it believed the move was in line with recommendations from the Basel Committee on Banking Supervision as well as the Central Bank

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