The Corporation for Public Deposits (CPD) was established as a subsidiary of the Bank in 1984 after the dissolution of the National Finance Corporation (NFC). The CPD is governed by the Corporation for Public Deposits Act 46 of 1984. The CPD accepts call deposits from the public sector and invests the funds in short-term money-market instruments and special Treasury bills. With the permission of the Minister of Finance, the CPD may also accept call deposits from other depositors. All funds invested with the CPD, and the interest earned on these funds, are payable on demand.
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