The second document, “The Johannesburg Interbank Average Rate (Jibar): Code of Conduct, Governance Process and Operating Rules” released together with the review document, was for public comment. The Code of Conduct, implemented on 1 March 2013, formalised the recommendations of the review project and is important to ensure the integrity and reliability of the determination process of the Jibar.
The Bank is responsible for ensuring overall compliance with the Code of Conduct, and does so through the Reference Rate Oversight Committee (RROC).