RBNZ begins second phase of review into new mortgage bond standard

Tue, 13 Nov 2018

By Rebecca Howard Nov. 13 (BusinessDesk) - The Reserve Bank has kicked off the second consultation into a new standard for mortgage-backed bonds to improve confidence and liquidity in the New Zealand markets. Deputy Governor Geoff Bascand said the new standard aims to reduce contingency risks for the Reserve Bank as a lender of last resort and provide issuers and investors with an additional funding and investment instrument. The new Residental Mortgage Obligations Framework defines a “high-grade residential mortgage-backed securities...

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