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South African banks push for central bank liquidity facility to help LCR compliance

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South African banks are lobbying for the South African Reserve Bank (Sarb) to set up a liquidity facility that will help provide them with enough eligible assets to comply with the new Basel III liquidity coverage ratio (LCR).

"We are hoping to see Sarb provide a liquidity facility to the banks at a market-related price that should enable the banks to acquire the necessary assets without impacting too severely on the market," said Mark Brits, general manager of the Banking Association South

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