RBNZ's TAF issuance slows down heading into Christmas

Reserve Bank lending through its Term Auction Facility (TAF), which is designed to help the banks bridge the disrupted period on wholesale short term debt markets, has slowed in the first two weeks of December after a fast start in November. Issuance in December fell to NZ$900 million in the first two weeks, while issuance in the first three weeks of the facility in November totalled NZ$3.45 billion. * This article was first published on Friday 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.