Reserve Bank to use Yieldbroker DEBTS for LSAP Auctions

 Release Date: 12 May 2020

The Reserve Bank intends using Yieldbroker’s DEBTS application from later this month to facilitate the auction process for undertaking Large Scale Asset Purchases (LSAP) in the secondary market.

This application was selected by the Reserve Bank and provides an efficient and automated service. It will replace the telephone bidding process, which has been used since the first LSAP auction on 25 March.

Telephone bidding will continue to be used for all other RBNZ market operations at this time.

The Yieldbroker DEBTS application is widely used in the New Zealand and Australian fixed income markets, including by the majority of the Reserve Bank’s authorised counterparties.

The detailed terms related to the LSAP programme are being updated to reflect the new arrangements.

The RBNZ will contact all authorised counterparties soon to discuss their use of the new process and its testing arrangements.

Announcements of the auction schedule, pre-auction details and the results will continue to be made via Refinitiv, Bloomberg and on the Domestic Markets section of the Reserve Bank website.

For further information contact:
Dean Hill
Manager, Financial Markets
Dean.Hill@rbnz.govt.nz