South Africa: Financial Sector Assessment Program-Technical Note on Systemic Liquidity Management

June 17, 2022

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Format: Chicago

South Africa: Financial Sector Assessment Program-Technical Note on Systemic Liquidity Management, (USA: International Monetary Fund, 2022) accessed November 9, 2024

Summary

The South African financial markets are the most developed and liquid in Africa and well developed by global standards, as well, reflecting credible and independent policy making, a diverse economy and strong financial institutions. Foreign exchange market turnover is consistently among the top 20 in the world according to the Bank for International Settlement (BIS) triennial survey. The government bond and interest rate swap yield curves go out to 20 years. The size of the domestic bond market is around 85 percent of GDP, and stock market capitalization is about 300 percent of the GDP. Supporting financial market infrastructure is broadly adequate for the size and turnover of the markets. The central bank (SARB) operates independently and at a high capacity, providing a sound footing for market functioning.

Subject: Asset and liability management, Currency swaps, Financial crises, Financial markets, Foreign exchange, International organization, Lender of last resort, Liquidity, Liquidity management, Monetary policy, Money markets

Keywords: Africa, C. benchmark money market interest rates, Currency swaps, Financial market department, Financial market development, Financial market liquidity, Global, IMF-World Bank Financial Sector Assessment Program, Lender of last resort, Liaison group, Liquidity, Liquidity management, Money markets, Repo market agreement

Publication Details

Pages:

35
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2022/183
Stock No:

1ZAFEA2022006
ISBN:

9798400214523
ISSN:

1934-7685

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