News and Opinion, sponsored by RaboPlus

The Reserve Bank of New Zealand announced this morning that it was in talks with the NZX to determine the feasibility of the two jointly providing the clearing and settlement functions of the two organisations.

Here is the brief announcement from the RBNZ:

The Reserve Bank of New Zealand and NZX today announced they are engaged in discussions on a potential joint venture to provide Clearing and Settlement services in New Zealand.

As a first step the Bank and NZX will undertake a review to determine the feasibility of jointly providing the clearing and settlement functions of the two organisations.

The Reserve Bank and NZX will update the market when further information is available.

Tags: NZX, RBNZ, Reserve Bank of New Zealand

You may also like to read:

• Unemployment rate rises to 7.3%, worse than expected; NZ$ falls (Update 5)
• Prices fall 0.2% in December quarter; reinforces RBNZ view to keep OCR on hold til mid-2010 (Update 4)
• Recovery slower than expected as firms wait for reality to catch expectations: NZIER (Update 1)
• Westpac hikes longer term deposit rates
• Reserve Bank’s monetary policy strengthened as more move to floating mortgages; most in 5 years
• Opinion: Lower than expected GDP growth unsupportive of market view of early OCR hikes
• Opinion: Why the RBNZ’s forecast for weak consumer spending growth is wishful thinking
• BNZ, Kiwibank hike deposit rates as competition for local funds heats up
• Westpac hikes 6 mth, 2 yr mortgage rates; leaves variable unchanged
• Opinion: Kiwi$ gets strong support from perceived RBNZ interest rate tightening cycle

This entry was posted on Wednesday, December 2nd, 2009 at 9:36 am and is filed under Reserve Bank. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.