Central Banking

RBNZ vows to aid transition to new retail payments system


The Reserve Bank of New Zealand (RBNZ) has pledged to temporarily reduce the premium it charges banks to access overnight funds from the central bank, to ease the transition to a new retail payments system.

In a statement released on Wednesday, the central bank said the cost of overnight borrowing will be lowered from 50 basis points to 25bp over the official cash rate between January 30 and April 30 next year.

At present, retail interbank payments are settled as bilateral net payments at the en

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: