In a further attempt to ease conditions in Australasian credit markets, the Reserve Bank of Australia has widened the range of securities it will accept for its daily repo operations to include Commercial Paper, Asset Backed Commercial Paper, and AAA rated securities that are not highly structured. Full details are here. The Reserve Bank of New Zealand already accepts Commercial Paper, Residential Mortgage Backed Securities and Kauri bonds for its domestic market options. See here for full details. * 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.
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