FMA encourages financial institutions to trade bank bills

Tue, 10 Oct 2017

By Sophie Boot Oct. 11 (BusinessDesk) - The Financial Markets Authority has issued guidance around trading in bank bills in an attempt to keep current market participants and encourage former traders back into the market. The bank bill benchmark rate (BKBM) is New Zealand's main interest rate benchmark, used to calculate the amount payable under financial instruments such as corporate loans. It is calculated based on bank bill trade information obtained from a daily two-minute trading window, with operating rules to stop traders significa...

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