Question and answer
what is the history of bannking in south africa using consolidation of banking
The heart of the banking system is the South African Reserve Bank, which is the primary monetary authority and custodian of the country's gold and foreign exchange reserves. [ [ The Reserve Bank is managed by a board of fourteen directors, seven representing major commercial and financial institutions, industry, and agriculture, and seven appointed by the government. Of the latter, one serves as
governor, and three serve as deputy governors of the Reserve Bank. The Reserve Bank's primary functions are to protect the value of the rand and to control inflation. The Reserve Bank regulates the money supply by influencing its cost- i.e., interest charged on loans to other institutions. It is technically independent of government control, but in practice it works closely with the Treasury and helps to formulate and to implement macroeconomic policy. The Reserve Bank issues banknotes and is responsible for the sale and purchase of foreign exchange for the government, as well as for the administration of the treasury-bill tender system. Its major customers are government agencies, private banks, and discount houses, although it also performs clearinghouse functions for private banks and assists banks that experience liquidity problems. Finally, the Reserve Bank is the authorized buyer of gold bullion, thereby acting as agent for the gold-mining industryThe heart of the banking system is the South African Reserve Bank, which is the primary monetary authority and custodian of the country's gold and foreign exchange reserves. The Reserve Bank is managed by a board of fourteen directors, seven representing major commercial and financial institutions, industry, and agriculture, and seven appointed by the government. Of the latter, one serves as governor, and three serve as deputy governors of the Reserve Bank. The Reserve Bank's primary functions are to protect the value of the rand and to control inflation. The Reserve Bank regulates the money supply by influencing its cost- i.e., interest charged on loans to other institutions. ]
Expert answered|wedwards123|Points 60|
Question
Asked 7/9/2013 3:45:14 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
21,555,496 questions answered
Popular Conversations
Financial statements should be prepared before any adjustments are ...
Weegy: Financial statements should be prepared before any adjustments are made. False. User: The credit side of an ...
7/4/2015 3:44:09 AM| 3 Answers
A chart of accounts does NOT include (Points : 1) assets. ...
Weegy: A chart of accounts does NOT include NAMES OF CUSTOMERS. User: Source documents provide objective, ...
7/4/2015 8:48:25 PM| 2 Answers
Profits from operating activities distributed to business owners are ...
Weegy: Profits from operating activities distributed to business owners are called dividends. TRUE. User: The ...
7/4/2015 3:55:42 AM| 1 Answers
Weegy Stuff
S
1
L
P
1
1
Points 128 [Total 1534]| Ratings 1| Comments 118| Invitations 0|Online
S
1
Points 113 [Total 624]| Ratings 0| Comments 113| Invitations 0|Offline
S
P
C
L
P
L
1
P
P
1
P
1
P
Points 49 [Total 9578]| Ratings 0| Comments 49| Invitations 0|Offline
S
Points 31 [Total 31]| Ratings 1| Comments 21| Invitations 0|Offline
S
1
L
L
Points 24 [Total 8404]| Ratings 0| Comments 24| Invitations 0|Offline
S
R
Points 6 [Total 208]| Ratings 0| Comments 6| Invitations 0|Offline
S
L
P
P
Points 4 [Total 3563]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 4 [Total 4]| Ratings 0| Comments 4| Invitations 0|Offline
S
Points 1 [Total 1]| Ratings 0| Comments 1| Invitations 0|Offline
S
Points 1 [Total 44]| Ratings 0| Comments 1| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.