RBNZ is consulting on the new Residential Mortgage Obligations (RMO) standard. RBNZ is proposing an enhanced mortgage bond standard that aims to support confidence and liquidity in the financial system; this follows a review of domestic and international mortgage bond collateral standards. The consultation will close on February 16, 2018.
RBNZ is seeking feedback on the proposed new RMO standard and on the terms under which it accepts mortgage bonds as collateral. RBNZ believes that the proposed collateral standard will:
- Improve the risk position of RBNZ by promoting the use of higher-quality and potentially more liquid mortgage bonds as collateral in the lending operations of RBNZ
- Support lenders in the New Zealand market by creating an additional funding instrument for residential mortgages
- Promote a deeper capital market through the availability of simple, comparable, and transparent mortgage bond instruments
Related Link: Press Release
Keywords: Asia Pacific, New Zealand, Banking, RMO Standard, Mortgage Bond Instrument, Residential Mortgage Lending, RBNZ
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