We had to bring the two sides together, so to speak, by draining the surplus, in order to ensure that short-term money market rates remained in line with the policy repo rate set by the Monetary Policy Committee; and in doing so, we obtained temporary funding for the GFECRA asset.
At peak, in August 2002, the structural surplus we had to drain amounted to the huge sum of close to R70 billion. We drained this by the use of variety of instruments - some normal in character, e.g.