This section details the two funding programmes launched by RBNZ during 2020. Funding for Lending provides monetary stimulus to the economy in order to meet the Bank’s consumer price inflation and employment remit, and the Term Lending Facility supports the Crown’s Business Finance Guarantee Scheme.
Funding for lending
To provide term funding, collateralised against approved Tier 1* collateral or RMBS, to lower the cost of borrowing for businesses and households. Funding available to 6 June 2022 and 6 December, for initial and additional allocations respectively.
|1 December 2020||Reserve Bank outlines details of Funding for Lending Programme||FLP Term Sheet - December 2020 (PDF 294KB)|
Term lending facility
To provide term funding collateralised against approved Tier 1* collateral or RMBS to support the Crown's Business Finance Guarantee Scheme ("BFGS"). Closed for new lending from July 2021.
|14 December 2021||Revision to transaction renewal notification period and BFGS data source||TLF Term Sheet - December 2021 (PDF 163KB)|
|25 May 2021||Reserve Bank confirms Term Lending Facility to close July 2021||TLF Term Sheet - December 2020 (PDF 214KB)|
|16 December 2020||Reserve Bank extends Term Lending Facility window||TLF Term Sheet - December 2020 (PDF 214KB)|
|20 August 2020||Reserve Bank outlines details of revised Term Lending Facility||TLF Term Sheet - August 2020 (PDF 45KB)|
|4 May 2020||Reserve Bank outlines details of Term Lending Facility May 2020||TLF Term Sheet - May 2020 (81KB)|
|2 April 2020||Longer-term funding to support business lending||n/a|