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South Africa Readies Backup Plan for Benchmark Rate Law Delay

Bloomberg Markets Thursday 29 October 2026, 04:00 UTC By Bonolo Mokonoto 1 min read
Key Points

EXCLUSIVE South Africa Readies Backup Plan for Benchmark Rate Law Delay The South African Reserve Bank and financial institutions are preparing a backup plan in case legislation needed for the switch to a new rand benchmark interest rate isn’t passed by the end of the year. The Market Practitioners Group, which includes the central bank, the Financial Sector Conduct Authority and private-sector firms, is considering options to ensure the transition can proceed smoothly if the legislation is...

EXCLUSIVE South Africa Readies Backup Plan for Benchmark Rate Law Delay The South African Reserve Bank and financial institutions are preparing a backup plan in case legislation needed for the switch to a new rand benchmark interest rate isn’t passed by the end of the year. The Market Practitioners Group, which includes the central bank, the Financial Sector Conduct Authority and private-sector firms, is considering options to ensure the transition can proceed smoothly if the legislation is delayed, the Reserve Bank said in an emailed response to questions.
South Africa Readies Backup Plan (ORG) The South African Reserve Bank (ORG) The Market Practitioners Group (ORG) the Financial Sector Conduct Authority (ORG) the Reserve Bank (ORG)
Originally published by Bloomberg Markets Read original →

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