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Offer to purchase Local Government Funding Agency bonds - 6 April 2020

The Reserve Bank is offering to purchase Local Government Funding Agency bonds in small scale for liquidity management purposes and to support market functioning.

This complements the activities of the Reserve Bank to provide liquidity and support the functioning of the New Zealand government bond market, through the repurchase programmes of the NZ government bonds maturing on 15 April 2020 and 15 May 2021.

Purchases will be held to maturity on the Reserve Bank's balance sheet, and governed by the Asset and Liability Committee.

The offer opens at 12:00pm on 6 April 2020 and will remain open until further notice.

Preferred settlement dates will be determined by projected liquidity flows. Transactions will be priced using the formulas included on the Domestic Markets section of the Reserve Bank’s website.

This programme is distinct from the Reserve Bank’s Large Scale Asset Purchases (LSAP) of New Zealand government bonds.

For further operational information contact:
Dean Hill
Manager, Financial Markets
[email protected]

Media Contact:
Oliver Bates
Manager, External Stakeholders
DDI: +64 4 474 8627
Email: [email protected]