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South African Reserve Bank Sees Dip in Assets, Liabilities – Gold Holdings Shine

Published by
WIlliam Dube
  1. The South African Reserve Bank (SARB) reported a decrease in total liabilities and assets by R29,552,891,225 for March 2023.
  2. The most significant change in assets was a decrease in foreign exchange reserves by R30,316,201,740, while gold holdings increased by R7,545,998,625.
  3. Domestic assets experienced mixed changes, with fixed assets increasing and accommodation to banks through repurchase agreements decreasing.

The South African Reserve Bank (SARB) has released its Statement of Assets and Liabilities for the month ending March 31, 2023. The data reveals a decrease in total liabilities by R29,552,891,225 and a corresponding decrease in total assets by the same amount.

The reduction in liabilities is primarily due to changes in the deposits and foreign loans held by the South African government. The government’s SDR deposit account saw a decrease of R2,752,569,071, while its other deposits dropped by R30,101,564,594. Foreign loans to the government also decreased by R10,534,900,539.

On the asset side, the most significant change was the decrease in foreign exchange reserves (excluding SDRs) by R30,316,201,740. However, gold holdings increased by R7,545,998,625. The gold holdings in fine ounces rose slightly, from 4,031,758 to 4,031,923. The value of the rand per fine ounce increased by R1,870.20, from R33,322.66 to R35,192.87.

In domestic assets, fixed assets increased by R218,394,539, while loans and advances showed a minor increase of R6,519,834. Accommodation to banks through repurchase agreements dropped by R1,804,623,289, and the utilization of cash reserves decreased by R1,071,800,126.

The South African government securities remained relatively stable, with an increase of R95,107,134. Other securities and assets saw no changes and a decrease of R1,517,650,008, respectively.

The SARB’s statement provides insights into the country’s economic landscape and the changes in its assets and liabilities. The decrease in total liabilities and assets may prompt the South African government and financial institutions to review their strategies in the coming months.

Table 1: South African Reserve Bank – Key Changes in Liabilities and Assets (March 2023)

CategoryChange (R)
Total Liabilities-29,552,891,225
Total Assets-29,552,891,225
SA Government’s SDR Deposit Account-2,752,569,071
SA Government: Other Deposits-30,101,564,594
Foreign Loans to SA Government-10,534,900,539
Foreign Exchange Reserves (excl. SDRs)-30,316,201,740
Gold Holdings+7,545,998,625
Table 1 highlights the key changes in liabilities and assets reported by the South African Reserve Bank for March 2023.

Table 2: South African Reserve Bank – Changes in Domestic Assets (March 2023)

CategoryChange (R)
Fixed Assets+218,394,539
Loans and Advances+6,519,834
Repurchase Agreements-1,804,623,289
Utilization of Cash Reserves-1,071,800,126
SA Government Securities+95,107,134
Table 2 presents the changes in domestic assets reported by the South African Reserve Bank for 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

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Published by
WIlliam Dube

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