The Central Bank of Swaziland is the nation's central bank. Swaziland has been experiencing excess liquidity for some time. The nation's commercial banks were Standard Bank, First National and the Nedbank as of 1998. The Swaziland Development and Savings Bank was undergoing reconstruction in that year after a 1995 bankruptcy. The Swaziland Building Society provided mortgages for housing.
The International Monetary Fund reports that in 2001, currency and demand deposits—an aggregate commonly known as M1—were equal to $62.2 million. In that same year, M2—an aggregate equal to M1 plus savings deposits, small time deposits, and money market mutual funds—was $189.7 million. The money market rate, the rate at which financial institutions lend to one another in the short term, was 5.06%. The discount rate, the interest rate at which the central bank lends to financial institutions in the short term, was 9.5%.
The Swaziland Stock Market was established in 1990, and has only five company listings.