Just a day-and-a-half into a coronavirus-induced nationwide lockdown that brought whole industries to a grinding halt, and hours after Moody’s Investors Service assigned SA’s sovereign debt junk status, the Reserve Bank came up with another plan to soften the blow on the economy.

The Prudential Authority, a division that regulates banks and is headed by deputy governor Kuben Naidoo, said on Saturday it is weighing whether to give lenders a temporary pass to dip into their cash buffers to support clients hurt by the disruption caused by the pandemic, a global public health emergency that has quickly morphed into economic contagion...

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