Reserve Bank seeks deep-pocketed new owner for NZClear settlement system

Tue, 02 Jun 2015

By Jonathan Underhill June 2 (BusinessDesk) - The Reserve Bank has called for expressions of interest to buy its NZClear security settlement and depository business, after a strategic review deemed it was not a core business for the bank and required significant investment. The central bank said it has also investigated replacement systems in the event it is unable to find a suitable alternative provider. A sale would be the end of a 25-year era for the Reserve Bank in operating NZClear, having migrated to an electronic system from the ol...

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