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South African Reserve Bank

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Changes to the Johannesburg Interbank Average Rate (JIBAR) Code of Conduct
Publish Date:
Media Releases

The initial Jibar Code of Conduct (Code) was published on the website of the South African Reserve Bank (SARB) on 1 March 2013. The Code forms the basis for the SARB’s surveillance of the Jibar rate-setting process. As part of a process to enhance the effectiveness of Jibar surveillance, the Code is reassessed on a continuous basis for relevance and alignment with international standards. The latest revised Code, as approved by the Financial Markets Liaison Group (FMLG) will come into effect on 31 August 2015.

Following a GAP analyses of the Code by the Financial Services Board (FSB) to ensure compliance with the International Organisation of Securities Commissions (IOSCO) principles for reference rates, changes proposed by the FSB have been incorporated, along with changes which became necessary through working with the Code.
The SARB will continue to monitor global developments on reference rates, and the Code will be revised accordingly in consultation with market participants.
To access the Code click here
Issued by:
Hlengani Mathebula
Head: Group Strategy and Communications
012 313 4210
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