Sarb seeks to improve interbank rate governance

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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 involv

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