Sarb’s Mminele calls for action on benchmark reforms
There is a considerable amount of work to be done before the transition, Daniel Mminele warns
It is of “utmost importance” to start preparing for the interbank interest rate transition now instead of adopting a “wait-and-see” approach, said Daniel Mminele, deputy governor of the South African Reserve Bank, at the Risk South Africa Conference in Cape Town on October 23.
In the speech, Mminele highlighted a series of reforms that the Sarb is considering for the Johannesburg Interbank Average Rate (Jibar) and the South African Benchmark Overnight Rate (Sabor). The reforms seek to “anchor”
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