Economic News

South African Reserve Bank Reports Growth in Total Assets and Liabilities in April 2023

Published by
WIlliam Dube
  1. The South African Reserve Bank (SARB) reported a net increase in total assets and liabilities in April 2023.
  2. Gold holdings, SDR holdings, and foreign exchange reserves experienced significant growth, contributing to the increase in assets.
  3. Liabilities saw a mixed trend, with a decrease in notes and coins in circulation, and an increase in deposits from the SA government and other entities.

The South African Reserve Bank (SARB) has released its Statement of Assets and Liabilities for the month ending 30th April 2023. The statement reveals a net increase in total assets and liabilities of R33,994,911,928 compared to March 2023, reaching a total of R1,189,448,041,633.

Gold and Foreign Assets

Gold holdings experienced a significant increase in value, with a rise of R4,844,379,878 in April 2023 compared to the previous month. Gold holdings in fine ounces showed a minimal increase of 50 ounces, resulting in a total of 4,031,973 fine ounces. The value of gold per fine ounce also rose by R1,201.05 to reach R36,393.92.

The South African Reserve Bank’s Special Drawing Rights (SDR) holdings also saw an increase of R3,832,082,350, reaching a total of R116,722,094,042. The SA government’s SDR deposit account grew by R3,822,296,866 to a total of R116,424,036,174.

Foreign exchange reserves, excluding SDRs, also experienced growth, increasing by R24,621,152,921 in April 2023, reaching a total of R869,059,237,681.

Total gold and foreign assets amounted to R1,132,520,636,410, marking an increase of R33,297,615,149 from the previous month.

Domestic Assets

Domestic assets experienced a slight increase in April 2023, with fixed assets growing by R46,891,184 to a total of R4,048,305,567. Loans and advances to other entities, excluding banks, increased by R666,907,674, reaching a total of R10,724,470,998.

However, accommodation to banks experienced a decline in April 2023. Repurchase agreements decreased by R899,426,712, settling at R900,955,593. Utilization of cash reserves also declined by R25,010,835 to reach R93,944,388.

Securities held by the South African government decreased by R265,907,998 to a total of R33,392,357,491, while other securities increased by R840,160,855, amounting to R5,318,160,855.

Other assets experienced a growth of R333,682,611, reaching a total of R2,449,210,331.

Liabilities

In April 2023, notes and coins in circulation experienced a decrease of R1,761,360,079, totaling R169,803,487,240. Deposits from the SA government (other) increased by R1,314,102,882, amounting to R10,794,339,018. Deposits from banks experienced a slight decrease of R317,480,300, reaching R219,905,816,757, while deposits from other entities increased by R3,397,586,098, totaling R31,460,697,155.

Foreign loans and deposits from the SA government decreased by R1,047,771,122, amounting to R126,402,275,096. Other foreign loans and deposits increased by R1,141,676, totaling R40,401,139.

Other liabilities saw a significant increase in April 2023, growing by R28,586,395,907 and reaching a total of R514,156,463,453.

In summary, the South African Reserve Bank’s Statement of Assets and Liabilities for April 2023 reveals a net increase in total assets and liabilities. Gold holdings, SDR holdings, and foreign exchange reserves experienced significant growth, contributing to the overall increase in assets. Domestic assets also saw an increase, though accommodation to banks experienced a decline.

On the liabilities side, notes and coins in circulation decreased, while deposits from the SA government and other entities experienced an increase. Foreign loans and deposits from the SA government declined, and other liabilities experienced a significant increase.

Overall, the South African Reserve Bank’s financial position appears strong, with growth in both assets and liabilities in April 2023. As the global economy continues to recover from the challenges of the past few years, it is crucial for the central bank to maintain a healthy financial position to support the country’s economic growth and stability.

Title: South African Reserve Bank (SARB) Key Financials (April 2023)

Financial CategoryApril 2023 (R)March 2023 (R)Change (R)
Total Assets and Liabilities1,189,448,041,6331,155,453,129,70533,994,911,928
Gold and Foreign Assets
Gold Holdings146,739,304,687141,894,924,8094,844,379,878
SDR Holdings116,722,094,042112,890,011,6923,832,082,350
Foreign Exchange Reserves (excl. SDRs)869,059,237,681844,438,084,76024,621,152,921
Domestic Assets
Fixed Assets4,048,305,5674,001,414,38346,891,184
Loans and Advances (Other)10,724,470,99810,057,563,324666,907,674
Accommodation to Banks (Repurchase Agreements)900,955,5931,800,382,305(899,426,712)
Accommodation to Banks (Cash Reserves)93,944,388118,955,223(25,010,835)
Securities (SA Government)33,392,357,49133,658,265,489(265,907,998)
Securities (Other)5,318,160,8554,478,000,000840,160,855
Liabilities
Notes and Coins in Circulation169,803,487,240171,564,847,319(1,761,360,079)
Deposits (SA Government)10,794,339,0189,480,236,1361,314,102,882
Deposits (Banks)219,905,816,757220,223,297,057(317,480,300)
Deposits (Other)31,460,697,15528,063,111,0573,397,586,098
Foreign Loans and Deposits (SA Government)126,402,275,096127,450,046,218(1,047,771,122)
Caption: A summary of key financials from the South African Reserve Bank’s (SARB) Statement of Assets and Liabilities for April 2023, highlighting the changes compared to March 2023.
WIlliam Dube

William Dube is a finance and economic news expert with over 10 years of experience in economic anaylsis, financial product assessment and market analysis. With a numerous certificates from prestigious universities including but not limited to Yale University and the University of Pennyslivenia. William specializes in providing insightful news developments in South Africa and commentary on investment strategies, risk management, and global economic trends. You can contact him on william@rateweb.co.za

Share
Published by
WIlliam Dube

Recent Posts

Tesla Unveils Refreshed Model 3 in North America with Exciting Upgrades

Model 3 Refresh: Tesla introduces a restyled Model 3 in North America, featuring a rear…

January 11, 2024

SEC Twitter Account Compromised, False Bitcoin ETF Approval Post Triggers Market Volatility

Unidentified individual accessed SEC's Twitter through a third party. Lack of two-factor authentication heightened vulnerability.…

January 11, 2024

Global Currency Markets Navigate Economic Uncertainties: Yen Weakens, Dollar Awaits U.S. Inflation Data

Japanese yen falls against the dollar and euro due to persistently shrinking real wages for…

January 11, 2024

Oil Prices Unmoved as Unexpected U.S. Inventory Build Raises Concerns

Unexpected Inventory Build: U.S. crude inventories unexpectedly grew, sparking concerns about weakening fuel demand and…

January 11, 2024

YanGuFang International Group Appoints Interim Executives Amidst CEO and CFO Detainment

Leadership Shake-up: CEO and CFO of YanGuFang International Group detained by Shanghai Police, prompting interim…

January 11, 2024

Cryptocurrency Market Analysis: SHIB, SOL, and ETH Navigate Challenging Terrain

SHIB breaches 200-day EMA, signaling bearish sentiment. Historical data suggests strong buyer reactions and potential…

January 11, 2024