RBNZ to accept corporate debt

The Reserve Bank of New Zealand has announced a number of changes to its market operations, mostly significantly accepting domestic corporate securities as collateral for central bank loans. The paper must have a long-term credit rating of BBB- or higher.

Grant Spencer, the deputy governor, said the measures are similar to actions taken by other central banks in the wake of the global financial market turmoil.

"Following a number of similar measures adopted earlier in the year, we are taking t