Changes to Term Lending Facility

Release date
20 August 2020

In conjunction with the Government’s review of the Business Finance Guarantee Scheme, the Reserve Bank today outlined the revised operational details of the Term Lending Facility (TLF).

Under the revised facility, the Reserve Bank will continue to offer to lend funds to banks at the Official Cash Rate, however the term has been extended to five years from three years.

The new facility will be available to use from 26 August and now runs through to 1 February 2021. The table below shows the TLF schedule dates.

More details about the TLF can be found in the Domestic Markets markets release - Reserve Bank outlines details of revised Term Lending Facility

TLF Schedule (dates are inclusive)

Offering 10.00am-12.00pm and 1.00pm-3.00pm  
26 August 2020 – 28 August 2020
24 September 2020 – 28 September 2020
27 October 2020 – 29 October 2020
25 November 2020 – 27 November 2020
23 December 2020 – 30 December 20201
28 January 2021 – 1 February 2021

 

1December dates have been adjusted to take account of the Christmas period. The 24 December window will only be available from 10am to 12pm.

For further information contact:

Dean Hill
Senior Manager, Financial Markets
Email: Dean.Hill@rbnz.govt.nz

Media contact:

Patrick O'Meara
Senior Adviser, External Stakeholders
MOB: 021 198 4227
Email: Patrick.O'Meara@rbnz.govt.nz