RBNZ has launched a new standing repo facility (rate is at the cash rate minus 15 bp)

Noting this from the Reserve Bank of New Zealand for those interested.

• Standing Repo Facility will allow for eligible counterparties to lend NZD overnight and from tomorrow to the next day, on a secured basis
• from 20 July, reserve bank to allow eligible counterparties to lend NZD through standing repurchase (repo) facility
• NZD deposited through standing repo facility will be remunerated at official cash rate less 15 basis points
• new standing repurchase facility will be available from 20 July 2022
• in exchange for depositing NZD, reserve bank will deliver to counterparty nominal New Zealand government bonds as collateral

Headlines via Reuters summary.

NZD/USD little change, circa 0.6150