The Reserve Bank on why it had to backstop a subsidiary
The Corporation for Public Deposits, which invests on behalf of the public sector, has received a huge guarantee
08 July 2020 - 18:06
If you have never heard of the Corporation for Public Deposits (CPD), no-one would blame you.
However, the little known subsidiary of the Reserve Bank serves a fairly important role — it takes public-sector cash and invests it, predominantly in short-term government instruments, such as Treasury bills, commercial bank instruments and state-owned entity (SOE) paper. ..
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