Tag Archives: Fact Sheet

No. 9 – The South African Reserve Bank’s system of accommodation

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Publish Date: 2020-10-05
Category: Fact Sheet
Author: Financial Markets
The main purpose of the money market operations conducted by the South African Reserve Bank (SARB) is to implement the interest rate policy as determined by the Monetary Policy Committee (MPC), with the aim of achieving the SARB’s inflation-targeting mandate. In its monetary operations, the SARB endeavours to promote financial stability by managing the liquidity needs of the banking system as a whole. It also contributes to the development and efficiency of the domestic financial markets, in particular the interbank market. The Financial Markets Department (FMD) uses various instruments to conduct the SARB’s monetary operations.

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No. 5 – Management of gold and foreign-exchange reserves

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Publish Date: 2017-06-14
Category: Fact Sheet
Author: Financial Markets
The official gold and foreign exchange reserves (the reserves) of the Republic of South Africa are held and managed by the South African Reserve Bank (the Bank). The mission of the Financial Markets Department (FMD), a department within the Bank, is to contribute to the formulation of monetary and financial stability policies, implement monetary policy, manage official reserves and provide treasury services to the Bank’s clients.
The fact sheet provides a broad outline of the management of reserves and, in particular, the foreign exchange reserves. It explains what foreign exchange reserves are, the rationale for holding reserves, the pace of accumulation of reserves in recent years, what reserves management entails, the investment objectives and governance, and broadly outlines the reserves management function at the Bank.

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