The Treasury has updated its Operating Rules and Guidelines to allow participants in NZGB tenders to bid in increments of 0.25 basis points rather than the previously required 0.5 basis points.
The first NZGB tender affected by this change will be the Nominal Bond Tender number 718 held on Thursday, 26 March 2020.
The Treasury has also made other technical changes to the Operating Rules and Guidelines to reflect consistency with the new Product Disclosure Statement for Treasury Bills dated 25 March 2020.
Matthew Collin | Head of Portfolio Management
Tel: +64 4 917 6015