Your browser is not supported

Our website does not support the browser you are using. For a better browsing experience update to a compatible browser like the latest browsers from Chrome, Firefox and Safari.

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.

Previous years: Monthly:
May 2022 May 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024 May 2024
Core funding ratio
Total loans and advances ($m)1 505,035 521,878 532,411 533,030 534,406 535,787 536,713
Core funding ($m) 449,127 468,163 479,587 478,005 479,337 480,069 478,485
Core funding ratio (%) 88.9 89.7 90.1 89.7 89.7 89.6 89.2
[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.




We release data approximately five weeks after the reference month.

Start-date of aggregate statistics

We compile tables L1 and L2 from data required to be reported by registered banks from April 2010, and these are published from that date.

We compile table L3 from data that registered banks are required to report by from March 2011, and it 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 us.

Access by the public

Statistics release calendar

The statistics release calendar provides a long-term plan of scheduled releases. We update and release it 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

We provide this information as a service to the public.

We collect, monitor and analyse the data in undertaking our prudential supervisory functions. These operations involve liaising with and monitoring financial institutions 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. New data, or revised data, are in bold font. Data are deemed provisional when a series is under review. This applies to the summary table only and not Excel files. We generally publish revisions when we are next due to update and release the table. Should we need to make revisions more promptly, we will post a special note. We post any major changes in methodology as a special note.


Dissemination of documentation on methodology and sources used in preparing statistics

Definitions of series are available in the Series description.

Our 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-check and provide assurance of reasonableness

We publish summary information on bank funding in the Standard Statistical Return monthly (see S tables).

Registered banks are required to publish Disclosure Statements quarterly. We reproduce summary information from these statements.

View the list of registered banks

Last updated December 2014

The definitions below are sourced directly from the Liquidity Policy.

View the Liquidity Policy

Total loans and advances

Total loans and advances (as per BS13) is the figure for loans and 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% 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)

We initially set the minimum CFR at 65% from April 2010, and increased the minimum to 70% from 1 July 2011. From 1 January 2013, the CFR increased to 75%. From 2 April 2020, the minimum CFR decreased to 50%.From 1 January 2022 the CFR was increased to 75%.

The May 2012, the 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 figure E1).

View the Financial Stability Report (FSR) for May 2021

Symbols and conventions for summary table

Symbol or convention Definition
0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
Light grey background Historical

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.