Operational Notice - South African Reserve Bank

SA RESERVE BANK4.7 Delivery confirmation4.7.1 Detail of securities to be delivered in respect of auctions held at 12:00should be sent to the Financial Instrument Register (FIR) by fax or throughSWIFT, within one hour after the announcement of the results, using theform in Appendix III.4.7.2 In the case of a 15:00 auction, participants should fax (or send via SWIFT)detail of securities to the FIR (also using the form in Appendix III) not laterthan 16:00.4.7.3 Due to time constraints regarding square-off auctions held at around 08:05the next day, detail of securities to be delivered should be sent to the FIRby fax or via SWIFT before the closure of the final SAMOS window, usingeither the form in Appendix III or IV.4.7.4 Failure to accurately disclose and deliver the underlying securities willconstitute an event of default and can result in a penalty of up to R100 000and/or the cancellation of the transaction by the Reserve Bank.4.8 Emergency procedures4.8.1 If the aforementioned procedures cannot be followed for whatever reason,the Reserve Bank reserves the right to change the procedures as deemednecessary. The market would be informed accordingly on the relevant wireservices pages.5. Delivery and settlement of securities5.1 Delivery5.1.1 All banks that wish to make use of the repurchase facility are required toopen a FIR account at the Reserve Bank’s Settlement Division inJohannesburg.5.1.2 All securities to be used for repurchase transactions should either bephysically delivered to the Settlement Division (in the case of Land Bankbills) or transferred to the Reserve Bank’s safe custody accounts in theCentral Depository (in the case of bonds) or the FIR (in the case of Treasurybills and Reserve Bank debentures).5.1.3 Securities to be sold to the Reserve Bank following a 12:00 auction shouldbe available in the relevant accounts within one hour after theannouncement of the auction results.5.1.4 Securities to be sold to the Reserve Bank following a 15:00 auction shouldbe available in the relevant accounts before 16:00.5.1.5 Securities to be sold to the Reserve Bank following a final square-offauction should be available in the relevant accounts before the closure ofthe final SAMOS window.OPERATIONAL NOTICE9