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Reserve Bank Financial Markets Statement — July 2023

This Financial Markets Statement confirms the pricing of the Reserve Bank’s standing facilities and ESAS accounts.

Pricing is as follows (effective 13 July 2023): 

  • ESAS balances – cash that ESAS account holders have on deposit at the Reserve Bank in their ESAS accounts will be remunerated at the Official Cash Rate (OCR), currently 5.50% percent.
  • Bond Lending Facility – bonds lent through the Bond Lending Facility will be lent at the OCR less 25 basis points.
  • Overnight Reverse Repo Facility – cash will be lent via the Overnight Reverse Repo Facility at the Overnight Reverse Repo Rate which is OCR plus 25 basis points.
  • Standing Repurchase Facility – cash deposited through the Standing Repurchase Facility will be remunerated at the OCR less 10 basis points.

Full details of our liquidity facilities including applicable haircuts for eligible securities, eligibility criteria and operational guidelines are available on the Domestic Markets page. 

More information:

Domestic markets

July 2023 Monetary Policy Review 

Contacts for further information 

Andrew Turner
Acting Director of Financial Markets
[email protected]

Dean Hill
Senior Manager, Financial Markets
[email protected]

Media contact

James Weir
Senior Adviser External Stakeholders
Phone: +64 4 471 3962 | Mobile: 021 103 1622
Email: [email protected]