Notices > General Notices | financial-markets > FMD-Notice
For the SARB’s reformed monetary policy implementation framework (MPIF), banks are permitted to earn the repo rate on deposits of excess reserves at the SARB. Banks have quotas, and only balances within these quotas earn the repo rate. Balances in excess of quotas earn repo less 100 basis points. The table below shows quotas for 20 July onwards.