02138cas a2200289 a 4500 AALejournalIMF022988 230101c9999 xx r poo 0 0eng d 20.00 USD 9798400214523 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. South Africa : Financial Sector Assessment Program-Technical Note on Systemic Liquidity Management. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (35 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The South African financial markets are the most developed and liquid in Africa and well developed by global standards, as well, reflecting credible and independent policy making, a diverse economy and strong financial institutions. Foreign exchange market turnover is consistently among the top 20 in the world according to the Bank for International Settlement (BIS) triennial survey. The government bond and interest rate swap yield curves go out to 20 years. The size of the domestic bond market is around 85 percent of GDP, and stock market capitalization is about 300 percent of the GDP. Supporting financial market infrastructure is broadly adequate for the size and turnover of the markets. The central bank (SARB) operates independently and at a high capacity, providing a sound footing for market functioning. Mode of access: Internet International Agreements and Observance imf International Organizations imf Monetary Policy imf South Africa imf IMF Staff Country Reports; Country Report ; No. 2022/183 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=1934-7685&volume=2022&issue=183 IMF e-Library