RBNZ offers to purchase NZ Govt April 2013 bonds

Date: 17 July 2012

As is usual ahead of a government bond maturity, the Reserve Bank offers to purchase NZ government bonds maturing 15 April 2013 for liquidity management purposes. Purchases will either be held to maturity on the Bank's balance sheet, or onsold to the New Zealand Debt Management Office (where the bonds will be cancelled).

This offer opens at 10:00am on 18 July 2012 and will initially be for limited quantities. The window will remain open until further notice. Interested parties should telephone their offers, volume and rate, to the Domestic Markets section on (04) 472 0074/472 0075, preferably between the hours of 10am to 12pm and 2pm to 4pm daily.

Preferred settlement dates will be determined by projected liquidity flows. Transactions with a settlement date prior to 6 October 2012 will be priced using the NZ Government Bond formula. Transactions with a settlement date from 6 October 2012 will be priced using the yield to maturity discount (Treasury bill) formula.

This operation has been undertaken to manage near term liquidity flows and has no implications for the Bank's monetary policy stance.

For further operational details contact:
Te Okeroa
Manager, Market Operations 
te.okeroa@rbnz.govt.nz