The agencies understand that outside parties will likely want to see the notice of proposed rulemaking for Basel II and the relevant proposals for amending current rules alongside one another for comparison's sake.
Having come of age in central banking at a different time, my purpose today is to be brief, to the point and as clear as possible. In the paragraphs which follow, I will outline the evolution of reserve management in South Africa, indicate the nature of the communication strategy which has been pursued and conclude.