JOHANNESBURG Feb 22 (Reuters) – The South African
Reserve Bank on Wednesday said it would change some its monetary
operations procedures including issuing more debentures from
March 1, but these changes did not reflect a change in its
monetary stance.
The bank said it would issue SARB debentures and reverse
repos with seven- and fourteen-day maturities, in addition to
the existing 28- and 56- day maturities.
Debentures and repurchase transactions are used by banks and
money-market dealers as collateral when they borrow money from
the central bank and when they invest.
“The refinements mentioned above are operational in nature
and do not in any way reflect a change in the monetary policy
stance of the Bank,” it said in a statement.
The bank said it would also conduct two- and five-day main
repurchase transactions during the week of the Monetary Policy
Committee meetings, which are held six times a year.
(Reporting by Phumza Macanda; Editing by Jon Herskovitz)
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