Further to the recent announcement regarding changes to the 2019/20 New Zealand Government Bond Programme and the Government’s COVID-19 Economic Response Package, the Treasury will be moving to weekly Treasury Bill tenders from 24 March 2020.
Treasury Bills on issue are forecast to be NZ$4 billion at 30 June 2020. This is NZ$1 billion higher than was forecast at the Half Year Economic and Fiscal Update 2019.
The move to weekly Treasury Bill tenders, from fortnightly previously, will support the ability to meet the Government’s increased short-term funding requirements.
Treasury Bill tenders will take place every Tuesday at the usual time of 1.30pm – 2.00pm, with results being published from 2.05pm.
The volume, and maturities offered, will be a function of short-term funding requirements and any feedback received from market participants.
Kim Martin | Acting Director, Capital Markets
Tel: +64 4 890 7274
Matthew Collin | Head of Portfolio Management
Tel: +64 4 917 6015