The central bank will decide separately on a list of eligible securities on the basis of proposals made by the Finance Ministry. The banks must start complying with new reserve requirements from 11 January 2023, using domestic government debt securities to meet a portion of their required reserve ratios if they chose to do so.
The Vision 2005 document spanned a 10-year period and contained strategies to modernise the South African national payment system (NPS) and to align the domestic NPS developments with international best practice.