| (NZ$ million) | Jun 2020 | Jul 2020 | Aug 2020 | Sep 2020 | Oct 2020 | Nov 2020 |
|---|---|---|---|---|---|---|
| 1. Cash at beginning of month | 26,001 | 23,388 | 23,870 | 19,371 | 18,731 | 21,721 |
| 2. Government cash influence | 5,183 | 5,373 | 557 | 4,947 | 1,070 | 1,957 |
| 3. Reserve Bank transactions | 173 | 60 | -119 | -110 | -187 | -417 |
| 4. Government debt transactions | ||||||
| Bonds issued | -12,025 | -7,816 | -4,400 | -9,688 | -2,889 | -6,110 |
| Bond maturities | - | - | - | - | - | - |
| Regular Treasury bills issued | -2,097 | -1,598 | -1,498 | -1,698 | -1,199 | -1,199 |
| Regular Treasury bill matruities | 475 | 2,450 | 1,610 | 1,800 | 2,300 | 2,450 |
| Other | - | - | - | - | - | - |
| 5. Foreign exchange | -3 | 0 | -12 | 1 | -4 | -18 |
| 6. Cash after public sector transactions during month (=1+2+3+4+5) | 17,707 | 21,857 | 20,008 | 14,623 | 17,822 | 18,385 |
| 7. Liquidity management operations | ||||||
| Net reverse repos | -364 | -19 | - | -601 | -100 | - |
| Net repos | - | - | - | - | - | - |
| Net FX swaps and basis swaps | 308 | -3,627 | -5,365 | -3,246 | -1,151 | -4 |
| Net RB bills | -25 | 100 | - | - | - | - |
| Net overnight reverse repo facility | - | - | 0 | 0 | - | 0 |
| Net auto-repo rollover | .. | .. | .. | .. | .. | .. |
| Net bond lending facility | -16 | 95 | -279 | 296 | -80 | -12 |
| Net Large Scale Asset Purchases | 5,762 | 5,455 | 4,999 | 7,653 | 5,128 | 4,107 |
| Net Term Lending Facility reverse repos | 16 | 9 | 8 | 7 | 103 | 173 |
| Net total liquidity management operations during month | 5,681 | 2,013 | -637 | 4,108 | 3,900 | 4,263 |
| 8. Cash as at end of month (=6+7) | 23,388 | 23,870 | 19,371 | 18,731 | 21,721 | 22,648 |
| 9. Average settlement cash | 26,969 | 25,452 | 22,592 | 19,481 | 23,032 | 24,077 |
| 10. Outstanding liquidity management operations as at end of month | ||||||
| Reverse repo | 879 | 860 | 860 | 260 | 160 | 160 |
| Repo | - | - | - | - | - | - |
| FX swaps and basis swaps | 21,409 | 18,045 | 12,684 | 9,443 | 8,296 | 8,296 |
| RB bills | -100 | - | - | - | - | - |
| Overnight reverse repo facility | - | - | - | - | - | - |
| Auto-repo rollover | .. | .. | .. | .. | .. | .. |
| Bond lending facility | -166 | -71 | -350 | -112 | -192 | -325 |
| Term lending facility | 18 | 27 | 35 | 42 | 145 | 318 |
| Large scale asset purchases | 22,078 | 27,543 | 33,172 | 40,306 | 45,305 | 49,637 |
| Total | 44,118 | 46,404 | 46,401 | 49,940 | 53,714 | 58,086 |
Data volumes are shown in millions of New Zealand dollars.
The following data is recorded in the table and is detailed further in the series descriptions
The information is captured daily and released monthly.
Tables are updated on the last working day of the month following the end of the reference month.
The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.
View the Statistics Release Calendar
Although there is no law that requires the RBNZ to compile and publish data on the tenders, the data are disseminated by the RBNZ as a service to the public.
Due to the RBNZ's introduction of the Official Cash Rate scheme on 17 March 1999, the above table has been redesigned.
Previously the table was called "Influences on Primary Liquidity" and contained the influences on Settlement Cash and Discountable Securities. With the abolition of Discountable Securities the table has been renamed "Influences on Settlement Cash" and contains expanded detail on both the Government's and RBNZ's transactions with the banking system. The table also contains a list of the outstanding securities, as at the end of the month, that result from the Bank's liquidity management operations.
The actual receipts and expenditure for the Government and RBNZ.
Not applicable.
Settlement cash balances The surplus cash held at the Bank in Exchange Settlement Account System (ESAS) accounts at the end of a banking day.
Cash at beginning of month The cash at the beginning of the month is the opening cash balance of the Exchange Settlement Accounts (ESA).
Government cash influence The Government cash influence is the Government revenue (taxes provided through Inland Revenue Department and Customs), less government expenditure and interest paid on Government bonds and Treasury bills.
Reserve Bank Transactions Includes Currency in circulation and various transactions that affect accounts held with the RBNZ. Currency in circulation refers to notes and coins issued by the RBNZ less those held in the vaults of registered banks.
Other (Government debt transactions) The net amount of miscellaneous Government debt transactions.
Foreign exchange Foreign exchange deals transacted by the New Zealand Government and the RBNZ.
Net reverse repos The net amount of reverse repos, transacted by the RBNZ to help manage the Government's daily liquidity flows.
Net repos The net amount of repos, transacted by the RBNZ to help manage the Government's daily liquidity flows.
Net FX swaps and Basis swaps The net amount of foreign exchange swap transactions (whether buying or selling the NZD) transacted by the RBNZ to help manage the RBNZ’s and Government’s daily liquidity flows.
Net Reserve Bank Bills The net amount of Reserve Bank bills, issued by the RBNZ to help manage the Government’s daily liquidity flows.
Net overnight reverse repo facility The net amount of overnight reverse repos transacted by RBNZ with other parties. The RBNZ will be willing to enter into overnight reverse repos on demand, with those parties who have entered into a Master Repurchase Agreement with the RBNZ. These transactions are done at a margin above the OCR. The OCR is an interest rate set by the RBNZ to implement monetary policy, so as to maintain price stability.
Net Bonding Lending Facility Bonds borrowed in the Bank’s bond lending facility
Net Large Scale Asset Purchases New Zealand Government Bonds and Local Government Funding Agency bonds purchased in the Large Scale Asset Purchase programme.
Net Term Lending Facility The net amount of reverse repos, transacted in the Bank’s Term Lending facility.
Cash as at end of month The surplus cash held at the bank in Exchange Settlement Account System (ESAS) accounts at the end of a banking day.
Average settlement cash Average daily balance of the exchange settlement accounts.
Overnight reverse repo facility A counterparty that has signed a Master Securities Repurchase Agreement sells government securities to the Bank in exchange for cash on an overnight basis. The counterparty agrees to buy the securities back at a stipulated price the next banking day. Currently the interest rate on these transactions is 25 basis points above the Official Cash Rate (OCR).
21 September 2020
Revisions to D10 data
Government Debt transactions – bond maturities have been revised upwards for the months between 2016-2019. The revisions range from $1.8b for February 2016 to $4.5b for March 2019.
The data from 2016-2019 has been adjusted to avoid a series break.
For more information please contact dommkts@rbnz.govt.nz
| 0 | Zero or value rounded to zero |
| - | Not applicable |
| .. | Not available |
| bold | Revised/new |
| italics | Provisional |
| light red background | Historical |