Financial Markets Department
The financial markets department predominantly is responsible for managing the country`s foreign currency assets commensurate with three investment objectives namely; capital preservation, liquidity and income generation. The division also issues short and long term government debt securities via open market operations to contribute to the bank`s monetary policy framework. This entails the structuring, auctioning and settlement of short & long dated securities.
The financial markets department is divided into three units namely; front office which is tasked with mainstream investing of reserves; middle office which oversees the investment process through risk management, compliance monitoring and reporting; and back office which offers auctioning of government security services as well as settlement of investments.
- RESERVES MANAGEMENT AND DOMESTIC MARKETS
- RISK MANAGEMENT AND COMPLIANCE
- TREASURY OPERATIONS
RESERVES MANAGEMENT AND DOMESTIC MARKETS
- Manage the country's Foreign Exchange Reserves
- Act as agent for Government in issuance and redemption of Government Securities
- Contribute to monetary policy formulation & Implementation
- Make contribution to development of local financial markets
- Domestic market development
- Central Securities Depository Management
- Manage CBS balance sheet (assets & liabilities)
- Streamlining/modernizing operations
- Act as Banker to Government (International Banker/Treasury Services)
- Provide treasury services to Government (all foreign currency payments & receipts)
RISK MANAGEMENT AND COMPLIANCE
- Payment & Settlement Systems Operation and Monitoring (RTGS/SWIPPS, Automated Clearing House, Regional Payment System (SADC & COMESA)
- Payment & Settlement Systems Oversight (Electronic money transfers e.g MTN Mobile Money, Remittances e.g. Shoprite/Standard Bank Money Transfer)
The operations of this department also assist to drive the implementation of the country's FSDIP to achieve financial inclusion targets.