RBNZ addresses commercial paper market issues

RBNZ addresses commercial paper market issues
Rebecca Howard
The Reserve Bank’s latest move to promote liquidity and stability in New Zealand’s financial markets is aimed at addressing issues in the so-called commercial paper market. “There had been signs the market was not functioning properly,” Reserve Bank assistant governor Christian Hawkesby said in an emailed response to questions.The commercial paper market is a way for corporates to borrow for short terms of three-months from banks, giving them flexibility to manage cashflow. It is used by large listed companies and private firms who already...

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