Friday 7th November 2008
|Text too small?|
Starting on Nov. 12, the central bank will operate a Term Auction Facility, which will offer as much as NZ$2 billion each Wednesday morning at 9:30 a.m., using approved collateral, it said in a statement. The TAF, which will be for terms of three, six and 12 months, will replace the bank's daily Open Market Operations, it said.
The regular OMOs may be held less frequently, for smaller volumes and with shorter maturity dates, the bank said.
The Reserve Bank will also hold a weekly tender of bills, as needed, to maintain settlement cash at an appropriate level, it said. The RB bill tenders of up to NZ$2 billion and for a term of about three months, will be held at 2 p.m. on Wednesday afternoons.
The facilities add to measures the central bank has employed this year to underpin banking system liquidity after it widened the range of securities it would accept as collateral to include Residential Mortgage Backed Securities.
Two banks have had RMBS structures approved by the Reserve Bank and more approvals are expected, it said.
No comments yet
FreshLeaf: Cannabis on course to be 'medicine of the masses'
Arvida Group Limited (NZX: ARV) to Acquire Arena Living Retirement Living Portfolio
My Food Bag Group Limited (NZX: MFB) Market Update and HY Results Announcement Date
Harmoney Corp Limited (NZX: HMY) Delivers Record September Quarter
Vital Healthcare Property Trust (NZX: VHP) Announces Successful Completion of $115m Placement
14th October 2021 Morning Report
General Capital Limited (NZX: GEN) Completes Greenfern Listing
LISTING AND QUOTATION NOTICE: NZX MAIN BOARD - GREENFERN INDUSTRIES LIMITED
13th October 2021 Morning Report
Hotel Montreal: Patterson Family Buys Christchurch's Hotel Montreal