23 July 2021 – development of new standard deferred
We have deferred the development of a new mortgage bond collateral standard until after the borrowing window for the Funding for Lending Programme (FLP) closes in December 2022.
We are aware that the current internal residential mortgage-backed securities (I-RMBS) are the main source of collateral in exchange for the term funding provided via the Funding for Lending Programme. Therefore, we deemed it prudent to delay developing the RMO framework until after the Funding for Lending Programme ends and also to take into account any relevant decisions from our review of bank liquidity policy.
We acknowledge the significant input from the industry on the RMO project and we appreciate the engagement with stakeholders, including investors and issuers, to date on this process. We recognise the importance of a robust mortgage bond collateral standard in New Zealand and remain committed to contribute to a sustainable securitisation market over the long term.
2019 – final summary of submissions published
On 12 August 2019, we published a summary of the submissions on the exposure draft.