Evolution of the Reserve Bank’s liquidity facilities

Release date
Vol. 71. No. 4. December 2008
Ian Nield
In this article, the evolution of the liquidity management regime over the past few years is detailed. This evolution is placed in the context of the prevailing financial market stresses. The robustness and adaptability of the system to a variety of shocks is discussed. Particular mention is made of the steps taken in the past year to ensure the stability of the New Zealand financial system.