Not all institutions that lend money in the federal funds market and who are key players in short-term money markets are eligible to receive interest on reserves. Consider, for example, Federal Home Loan Banks. They were set up in the 1930s to support mortgage lending. Today, they manage about $ trillion in assets.
The success of the NSX is illustrated by the fact that by 2005 it was the second largest African stock exchange in terms of total market capitalisation and the fifth largest in terms of traded value. Currently, 28 companies are listed on the NSX; a high number of which have a dual listing on the JSE.