2010).24 A number of central banks engaged in large foreign exchange swap operations in order to provide the domestic banking system with foreign currency. Finally, some central  22  See Kohn (2009), Svensson (2010) and Woodford (2010). 23  See Borio and Disyatat (2009) for another classification. 24  Furthermore, haircuts on collateral are adjusted in line with credit quality.
François Groepe: Improving the security and cost-effectiveness of banknotes Address by Mr François Groepe, Deputy Governor of the South African Reserve Bank, at the 18th conference of the Association of African Banknotes and Security Documents Printers (AABSDP), hosted by the South African Bank Note Company (SABN), Cape Town, 17 November 2014.