BRIEF-Reserve Bank Of New Zealand Announces New Standing Repurchase Facility

Reserve Bank of New Zealand: * ANNOUNCES NEW STANDING REPURCHASE FACILITY

* STANDING REPO FACILITY WILL ALLOW FOR ELIGIBLE COUNTERPARTIES TO LEND NZD OVERNIGHT AND FROM TOMORROW TO THE NEXT DAY, ON A SECURED BASIS * FROM 20 JULY, RESERVE BANK TO ALLOW ELIGIBLE COUNTERPARTIES TO LEND NZD THROUGH STANDING REPURCHASE (REPO) FACILITY

* NZD DEPOSITED THROUGH STANDING REPO FACILITY WILL BE REMUNERATED AT OFFICIAL CASH RATE LESS 15 BASIS POINTS * NEW STANDING REPURCHASE FACILITY WILL BE AVAILABLE FROM 20 JULY 2022

* IN EXCHANGE FOR DEPOSITING NZD, RESERVE BANK WILL DELIVER TO COUNTERPARTY NOMINAL NEW ZEALAND GOVERNMENT BONDS AS COLLATERAL Further company coverage: