Daily Banking Industry News
Wednesday 03rd of December 2008

Banking Sectors:

By company:

By organisation:

Also see:

May 8, 2008

New Zealand central bank boosts liquidity

by Richard Kilner

Story link: New Zealand central bank boosts liquidity

new measures designed to assist the country’s banking sector by improving liquidity.

The move has been made as a pre-emptive strike against potential future financial turbulence in the world’s credit markets and banking sectors.

The changes, which come into effect from 3 June, include increasing the range of securities acceptable to the Reserve Bank’s liquidity operations.

From 3 June, AA rated NZ government sector debt and NZ-registered NZ dollar AAA rated securities will be accepted.

The Overnight Reverse Repo Facility, currently standing at just 1 day, will be extended to a maximum timescale of 30 days.

In addition, the Facility will have a discount margin of 50 basis points for all applicable securities.

Grant Spencer, deputy governor, explained that the Reserve Bank’s actions were similar to the decisions made by other central banks across the world.

Spencer went on to say that he was confident that current market conditions posed no serious danger to the New Zealand banking sector, and that the changes were being made solely to see off any unforeseen future difficulties.

 

Add to Bookmarks:

ADD TO NETSCAPE     ADD TO DEL.ICIO.US     ADD TO DIGG     ADD TO FURL

ADD TO STUMBLEUPON     ADD TO YAHOO MYWEB     ADD TO GOOGLE     ADD TO SPURL


Related stories to: New Zealand central bank boosts liquidity

New Zealand keeps interest rates unchanged  ...

Kenya raises interest rates to 9%  ...

RBNZ supports bolstering settlement systems  ...

JPMorgan selected by ACC to provide services  ...

New Zealand cuts OCR by 25 basis points  ...

No Comments »

No comments yet.

Leave a comment


Previous: « Maeda hired by Deutsche Securities
Next: UKSA supports Northern Rock shareholders in fight for justice »

Visited 274 times, 2 so far today

Investment Banking News

Investment Banking Newss
Evolution Securities expands Fixed Income unit



Employment News

Banking Employment & Jobs News
Federated acquires Clover Capital Management