Consultations

23 February 2024

New Zealand Financial Markets Association (NZFMA), the Industry Association for wholesale financial markets and the facilitator of the provision of key New Zealand financial benchmarks, and its subsidiary New Zealand Financial Benchmark Facility Limited (NZFBF), as the benchmark administrator, have today issued Consultation Two – Viable Benchmark Replacement Options.

26 June 2023

New Zealand Financial Markets Association (NZFMA), as benchmark owner, and its subsidiary New Zealand Financial Benchmark Facility Limited (NZFBF), as benchmark administrator, have issued a consultation document seeking submissions on viable options for establishing an interest rate benchmark to potentially replace BKBM

The purpose of the consultation was to invite responses on a proposed change to the bank paper maturity convention from early/late to actual maturity date +5 business days, following a discussion at the 7 October 2021 NZFMA Rates Committee, and subsequent discussions with the BKBM Price-makers.
The New Zealand Financial Benchmark Facility Limited (NZFBF) are consulting on a proposed change to the maturity convention used for short-term bank paper (i.e., with a maturity of <12 months).