Reserve Bank of New Zealand

Wednesday, 01 April 2020

RBNZ adds long-term bank funding and restricts capital redemptions

The Reserve Bank of New Zealand (RBNZ) has added a term-lending facility (TLF) for banks to its suite of COVID-19 relief measures. It has also restricted banks from redeeming capital instruments that are not common-equity tier-one (CET1).

Thursday, 02 April 2020

RBNZ asset purchases

The Reserve Bank of New Zealand (RBNZ) has embarked on an asset purchasing programme as part of its regular open market operations in support of monetary policy goals. KangaNews will provide subscribers with easy access to asset purchase data, which will be updated as information is made publicly available by the RBNZ.

Tuesday, 31 March 2020

NZDM increases issuance programme by NZ$12 billion

On 1 April, New Zealand Debt Management (NZDM) increased its New Zealand Government Bond (NZGB) programme to NZ$25 billion (US$14.9 billion) for the 2019/20 financial year, an increase of NZ$12 billion from the update given on 17 March. The revised funding requirement is due to the additional fiscal impacts of COVID-19.

Sunday, 29 March 2020

RBNZ to accept corporate bonds and ABS for bank liquidity

The Reserve Bank of New Zealand (RBNZ) has added a corporate and asset-backed securities (ABS) funding facility to the suite of operations it is implementing to improve domestic liquidity conditions amid COVID-19 related volatility.

Friday, 27 March 2020

Two degrees of contagion

As the world scrambles to battle the COVID-19 pandemic, markets are tasked with sorting out how measures to fight the virus will affect economies and finding their best path forward. A panel of market participants from New Zealand, convened via teleconference, agree the country is in a better position than almost anywhere but acknowledge that the outsized influence of global markets on the local economy – and the scale of economic support programmes – make for a precarious future.

Sunday, 22 March 2020

RBNZ joins the QE choir

The Reserve Bank of New Zealand added its voice to the global chorus of central banks implementing unconventional monetary policy measures with the launch of a large-scale asset purchase programme on 23 March. This is designed to reverse tighter funding conditions from the COVID-19 crisis.

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