Banks: Core funding ratio (L2)

This data tracks the core funding ratio (CFR) of banks. The CFR compares an estimate of a bank's funding that is stable and can be assumed to stay in place for at least 1 year (‘core funding'), and the core lending business of a bank that needs to be funded on a continuing basis.
06 May 2022 03:00 p.m.
Next release
01 June 2022 03:00 p.m.
Reserve Bank of New Zealand
Previous years: Monthly:
Mar 2020 Mar 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022
Core funding ratio
Total loans and advances ($m)1 454,628 468,569 490,763 493,159 496,893 499,037 501,788
Core funding ($m) 401,277 406,783 431,554 439,303 440,021 443,242 449,321
Core funding ratio (%) 88.3 86.8 87.9 89.1 88.6 88.8 89.5
  1. An update to BS13 Liquidity policy applied from 1 January 2018 with the definition for Total loans and advances changed from the most recent Disclosure Statement figure to the figure for Total (Net) Loans and Advances as reported in the monthly Bank Balance Sheet Survey for the month that is two months prior to the BS13 reporting month.

The data: coverage, periodicity, and timeliness

Coverage characteristics

Data on the value of funding are published as end of month figures in millions of New Zealand dollars. Ratios are published as percentages.




Data is released approximately five weeks after the reference month.

Start-date of aggregate statistics

Tables L1 and L2 are compiled from data required to be reported by registered banks from April 2010, and are published from that date.

Table L3 is compiled from data required to be reported by registered banks from March 2011, and is published from that date.

List of institutions included in published liquidity statistics

All locally incorporated banks are required to provide reports on liquidity to the Reserve Bank.

Access by the public

Statistics release calendar

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.


Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

The information is disseminated by the Reserve Bank of New Zealand as a service to the public.

The RBNZ collects, monitors and analyses the data in undertaking its prudential supervisory functions. These operations involve liaising with and monitoring financial institutions, in order to ensure effective implementation of policy and the soundness of the financial system.

Individual bank responses are strictly confidential.

Provision of information about revisions and advance notice of major changes in methodology

Provisional data are italicised. Data are deemed provisional when a series is under review. New data, or revised data, are in bold font. This applies to the summary table only and not excel files. Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a note is posted on the website under "Revisions to Tables".

Any major changes in methodology will be posted here on this website.


Dissemination of documentation on methodology and sources used in preparing statistics

Definitions of series are available in the Series description.

The Reserve Bank's Liquidity Policy specifies the minimum prudential standards for registered banks, addressing the degree of liquidity risk that they take on, and their approach to managing that risk.

View the Liquidity Policy.

Dissemination of statistics that support statistical cross-checks and provide assurance of reasonableness

Summary information on bank funding is published in the Standard Statistical Return monthly (See S tables).

Registered banks are required to publish Disclosure Statements quarterly. Summary information from these statements is reproduced by the Reserve Bank and available on the website.

A list of registered banks is available.

Last updated December 2014

The definitions below are sourced directly from the Liquidity Policy.

Total loans and advances

Total loans and advances (as per BS13) is the figure for loans & advances (net) as reported in the monthly Bank Balance Sheet Survey for the month that is two months prior to the BS13 reporting month..

Core funding ($m)

The core funding dollar amount as at month end, for the purposes of calculating the one-week mismatch ratio, is calculated as:

One year core funding dollar amount =

  • all funding with residual maturity longer than one year, including subordinated debt and related party funding
  • plus 50 per cent of any tradable debt securities issued by the bank with original maturity of two years or more and with residual maturity at the reporting date of more than six months and not more than one year
  • plus non-market funding that is withdrawable at sight or with residual maturity less than or equal to one year, applying the percentages in Table 2 of the Liquidity Policy to such funding falling within each size band
  • plus Tier 1 capital

Core funding (%)

The one-month mismatch dollar amount as at month end, for the purposes of calculating the one-month mismatch ratio is calculated as:

The core funding ratio (CFR) is defined as:

Core funding ratio =

  • 100 x (One year core funding dollar amount / Total loans and advances as per BS13)

The Reserve Bank initially set the minimum CFR at 65 percent from April 2010, and increased the minimum to 70 percent from 1 July 2011. From 1 January 2013 the CFR increased to 75 percent. From 2 April 2020 the minimum CFR decreased to 50 percent.

The May 2012 Financial Stability Report (FSR) presented an estimate for the CFR, prior to the introduction of the liquidity policy, from March 1988 onwards using other data sources. See the May 2012 FSR, figure E1.

Symbols and conventions for summary table

0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
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