Sarb seeks to improve interbank rate governance


The South African Reserve Bank (Sarb) on November 16 issued the draft of new code of conduct for contributors to the Johannesburg interbank agreed rate (Jibar), after conducting a review of the benchmark. Jibar is the short-dated money-market rate used in South Africa's domestic financial markets, and is the country's equivalent of Libor or Euribor.

Sarb instigated a review of Jibar in 2011, seeking to establish if there were any anomalous trends and to assess the processes and procedures

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