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Johannesburg - The South African Reserve Bank (Sarb) on Wednesday
said it would change some its monetary operations procedures including issuing
more debentures from March 1, but these changes do not reflect a change in its
monetary stance.
The bank said it would issue Sarb debentures and reverse
repos with 7- and 14-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.