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)
|SA Government’s SDR Deposit Account
|SA Government: Other Deposits
|Foreign Loans to SA Government
|Foreign Exchange Reserves (excl. SDRs)
Table 2: South African Reserve Bank – Changes in Domestic Assets (March 2023)
|Loans and Advances
|Utilization of Cash Reserves
|SA Government Securities
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