Category Archives: South African Reserve bank

News from the South African Reserve bank

Working Paper – WP/20/12: Time consistency and economic growth: A case study of South African macroeconomic policy

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Publish Date: 2020-11-27
Category: Working Papers
Author: Christopher Loewald, David Faulkner and Konstantin Makrelov
The numerous diagnostic studies and policy recommendations that exist for South Africa typically focus on microeconomic constraints to growth. Higher potential growth certainly requires structural reforms to boost productivity growth, in particular to allow private competition and investment in network sectors. But these reforms and others will also be more effective if macroeconomic policy facilitates the relative price adjustments and consequential factor allocations needed to achieve higher productivity. Sustained and large fiscal deficits, higher debt, and relatively high inflation all impede those price and factor adjustments. Looking back to the global financial crisis, different policy settings in fiscal, monetary and macroprudential policies, backed by structural reforms, could have supported higher growth outcomes and provided the fiscal space to respond to the current COVID-19 crisis more effectively.
 
 

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Risks associated with the use of instant electronic funds transfer (EFT) online payment services offered at e commerce stores

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Publish Date: 2020-11-26
Category: Media Releases

The South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA), in consultation with the Payments Association of South Africa (PASA), would like to issue a warning to consumers to be aware of the risks associated with the use of instant electronic funds transfer (EFT) online payment services offered at e‑commerce stores (i.e. stores which facilitate the purchase and sale of goods and/or services via the Internet).

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Capital flow management framework update: Clarification of reclassification of inward listed instruments

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Publish Date: 2020-11-24
Category: Media Releases

National Treasury, the South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA) intend to review Exchange Control Circular 15/2020 issued by the SARB, following the announcement by the Minister of Finance in the Medium Term Budget Policy Statement (MTBPS) Speech on 28 October 2020.

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Cheques will no longer be used in the national payment syste

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Publish Date: 2020-11-17
Category: Media Releases

The South African Reserve Bank (SARB), Financial Sector Conduct Authority (FSCA), Payments Association of South Africa (PASA) and the Banking Association South Africa (BASA) are jointly communicating to the public that the issuing and the acceptance/collection of cheques will cease, effective from 31 December 2020.​

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MPG Forum Presentation 06 November 2020

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Publish Date: 2020-11-10
Category: MPG Related Documents
Author: Financial Markets

This presentation provides an overview of the main considerations and recommendations made by the following works streams constituted under the Market Practitioners Group (MPG):

  • Unsecured Interest Rates
  • Risk-Free Rates
  • Transition

 

 

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Information notice on the official gold and foreign exchange reserves of the South African Reserve Bank as at 31 October 2020

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Publish Date: 2020-11-06
Category: Information Notice
Author: Financial Markets

​​This notice provides detail of the US dollar equivalent of the level of the South African Reserve Bank’s (SARB) official gold and foreign exchange reserves, Special Drawing Rights (SDRs) and foreign currency deposits received from customers published today in the SARB’s Statement of Assets and Liabilities as at 31 October 2020.

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Banking and insurance sector risk assessments executive summary

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Publish Date: 2020-11-05
Category: Media Releases

In 2018, the Prudential Authority (PA) embarked on a process to complete its first money laundering and financing of terrorism (ML/FT) risk assessment work, in respect of the banking and life insurance sectors. ​

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