RBNZ lends banks NZ$1.45 bln and soaks up similar amount

The Reserve Bank lent banks, including ANZ National, NZ$1.45 billion through its Term Auction Facility this week for terms of 3 months to 1 year and interest rates of 5.78% and 5.13% respectivity. The central bank then issued NZ$1.5 billion worth of 4 month and 6 month Reserve Bank bills at interest rates of 5.42% and 5.19% respectively to 'soak up' cash in the monetary system. Full details are here. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.