Major changes include: •  Increased participation In line with the philosophy of the new NPS, the interbank settlement system has been opened to enable more participation. All registered South African banks are eligible to participate in SAMOS. The number of participating banks in the settlement process has already increased from 11 banks in the old system to 21 banks in the new system.
The number of participants will most probably increase significantly over the next few months. •  Exposures monitored in real time A participating bank can monitor its balances in the SAMOS system in real time. In other words, the effect of any payments made or received by a participant will immediately be reflected on the banks’ position monitor.