By the time the Employment Equity Act was promulgated in 1998, the Bank had already begun to plan the interventions necessary to achieve employment equity. The Reserve Bank as an employer of more than 300 people is required to comply with the requirements of the Employment Equity Act, (No. 55 of 1998). The Bank has prepared its employment equity plan.
This potential problem can be greatly magnified by the possibility of shifting burdens between taxpayers of different member states via central bank balance sheets – without an explicit mandate from national legislators. This is an important difference compared with non-EMU central banks that have used their balance sheets as a policy instrument.