Sarb reserve management policy sheds light on tranches
South African Reserve Bank publishes investment policy governing allocation of FX and gold
The South African Reserve Bank (Sarb) has published the investment policy governing the management of its reserves for the first time. Daniel Mminele, a deputy governor, said the bank was aiming to "improve transparency" around reserve management and "align the bank with global best practices".
The policy provides a framework within which the Sarb's reserve management committee sets risk parameters at a portfolio level, while the financial market department actually manages the portfolios. The
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