RBNZ apologises for disruptions

Tuesday 1st July 2008

The Reserve Bank of New Zealand said services for some users of its settlement systems were disrupted yesterday because of a glitch changing over software last weekend.

The central bank apologised to users of the Exchange Settlement Account System and Austraclear settlement system, in a statement signed by Mike Wolyncewicz, the bank's chief financial officer.

The bank said transactions were processed manually on request and the Austraclear End of Day was extended by 25 minutes.

Some users had complained they weren't given enough notice of the glitches, according to the statement.

Yesterday was marked by "continued settlement problems that culminated with a batch preventing Austraclear's settlement completing," Martyn Bain, spokesman for NZX Operations, said in an emailed statement. The NZX received an incident report from the bank and released the bank's statement.

By Jonathan Underhill

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