This data shows the settlement cash level and use of the Reserve Bank's standing facilities on a daily basis. For more information about our standing facilities, please see our facilities at a glance page
|Transaction date||Settlement cash balance (m)||Overnight reverse repo (m)||Total FX Swaps (m)|
|25 Jan 2022||41,549||-||896|
|Transaction date||Amount ($m)||Bond Issuer||Bond Maturity Date||Settlement date||Maturity date|
|25 Jan 2022||8||NZGB||15 Apr 2027||25 Jan 2022||26 Jan 2022|
|25 Jan 2022||11||NZGB||14 Apr 2033||25 Jan 2022||26 Jan 2022|
|25 Jan 2022||3||NZGB||15 May 2031||25 Jan 2022||26 Jan 2022|
|25 Jan 2022||5||NZGB||20 Sep 2040||25 Jan 2022||26 Jan 2022|
|Transaction date||Amount Drawn ($m)||Repayments ($m)||Aggregate Outstanding ($m)|
|25 Jan 2022||-||-||2,387|
|Transaction date||Amount Drawn ($m) - Initial Allocation||Amount Drawn ($m) - Additional Allocation||Repayments ($m) - Initial Allocation||Repayments ($m) - Additional Allocation||Aggregate Outstanding ($m)|
|25 Jan 2022||-||-||-||-||7,231|
The following data is collected and is detailed further in the series description:
The results of the Standing Facilities are released via electronic media the next banking day.
Data is released on the Reserve Bank’s Statistics section.
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.
The data are final and are not subject to revision. Any changes to the processes of conducting the Standing Facilities are announced via electronic media. Procedures are outlined in Section 3 of the Operating Rules and Guidelines for the Domestic Markets.
For additional explanatory information see the RBNZ Bulletin, Vol 67 No 4, Dec 2004.
Includes Reuters, Bridge and Bloomberg.
Most securities reported are wholesale market instruments: New Zealand Government bonds, Local Government Funding Agency bonds, Treasury bills, Corporate bonds, Reserve Bank bills, Commercial paper or Registered certificates of deposit (RCDs).
These are written promissory agreements, whether marketable or not, in which one party promises to pay a stated sum on demand, or on a specified date, to the legal holder of the document. They may also involve a promise to pay stated interest at specified intervals over the term of the bond. Alternatively, they may be issued and traded at discount from their nominal value.
These include: Government bonds, Treasury bills, Reserve Bank bills, bills of exchange, commercial paper (including eurocommercial paper), certificates of deposit, debentures, convertible notes, and medium term notes issued by private placement.
There three main categories of government securities, each of which have several sub-categories. The three main categories are:
Wholesale government securities are issued for terms of greater than one year and carry a coupon payment. Wholesale securities are initially sold, normally by tender, to financial institutions.
Treasury bills are securities issued for terms of less than one year and do not carry a coupon payment. Treasury bills are initially sold at a discount to the nominal value to financial institutions, normally by tender.
Retail government securities are issued over the counter for terms of two or four years starting from the date of purchase and carry a coupon payment.
Government bonds which are denominated in New Zealand dollars, issued for terms greater than one year, and have a fixed interest coupon paid semi-annually in arrears.
Inflation-indexed bonds (IIB) are denominated in New Zealand dollars with a fixed coupon paid quarterly in arrears. On maturity, the principal and the indexed component of the -bonds are redeemable. The index component refers to the incremental CPI adjustment.
Treasury bills are denominated in NZ dollars sold at a discount to the nominal value and carry no coupon. The bills are redeemable at par on maturity. Treasury bill tenders are generally held by NZDMO, on a weekly basis. Three maturities of regular Treasury bills are offered in each tender with roughly three, six and twelve month maturities. However, from time to time the RBNZ will also offer seasonal Treasury bills in the tenders. Seasonal Treasury bills are issued for liquidity management purposes and generally have a maturity of less than three months. Seasonal Treasury bills sold in tenders are noted by *.
Maturity The date the final repayment for a security or loan is expected to be made. Maturity data may be presented in slightly different ways depending on the particular form of the security.
Present value The present value refers to the current market value of a security.
Nominal value The nominal value of a security represents the amount to be repaid at maturity. The nominal value is recorded on the face of the document recording the entitlement, generally a certificate or bond. It is also referred to as the “face value”.
Banking day Mondays through Fridays, excluding public holidays.
Outright holdings (nominal holdings) Securities held outright by the owner either directly or through an agent.
Settlement date The date counterparty buys the government bond from the Bank.
Settlement cash balances The surplus cash held at the Bank in Exchange Settlement Account System (ESAS) accounts at the end of a banking day.
Total FX swapsThe total 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.
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).
Bonding Lending Facility Bonds borrowed in the Bank’s bond lending facility
Term Lending Facility A new longer-term funding scheme for the banking system, in support of the Government’s Business Finance Guarantee Scheme to help promote lending to businesses. The TLF will provide funding at a rate of the OCR, fixed for three years. The facility will require approved eligible collateral to be pledged in a similar manner to the Reserve Bank's Open Market Operation (OMO).
Funding for Lending Programme The FLP will provide funding at a rate of the OCR, for a term of three years. The borrowing rate will adjust over the term of the transaction with any changes to the OCR. Eligible counterparties can borrow up to an amount of 6 percent of their total outstanding loans to businesses and households, made up of an initial allocation of 4 percent and an additional incentive-based allocation of 2 percent based on new lending. The programme will require approved eligible collateral to be pledged in a similar manner to the Reserve Bank's Open Market Operation (OMO) and Term Lending Facility.
Auto Repo rollover was discontinued from end of February 2020 when the ESAS/NZClear were refreshed. All Auto Repo transactions are now matured each day and all rollovers are deemed to be considered new trades.
|0||Zero or value rounded to zero|
|light red background||Historical|