The New Zealand Financial Markets Association is the professional body for wholesale (institutional) banking in New Zealand. The Association represents the interests of its members in ensuring the sound management of the over-the-counter financial markets. This is achieved by promoting effective self-regulatory initiatives, advocating for the industry, providing relevant education, and developing and implementing high professional standards to be used by members when dealing in these markets.

NZFMA also maintains and is the Benchmark Administrator for benchmarks and indicative closing rates calculated and published by the NZdata Service.

NZFMA membership is institutionally based, with members providing a wide range of financial services such as corporate banking, trading in financial instruments and trade finance.

Submission to ASIC on LEIs - Application for Relief

NZFMA have lodged a submission with ASIC applying for relief (under ASIC regulatory Guide 51) for Derivative Transaction Rules (Reporting) 2013. The submission seeks conditional exemption relief from the requirement to provide the Specified Entity Information for New Zealand banks' smaller NZ counterparties (eg. small and medium enterprises that are not Australia entities and are not entering into transactions with the NZ banks that are captured by Prudential Standard CPS 226 or require a CSA, or similar). Read the Submission

Benchmark Administration Structure Review

NZFMA is embarking on an assessment of the most appropriate benchmark administration structure for the New Zealand financial markets that will meet IOSCO Benchmark Principles and mitigate any conflicts of interest. This assessment will include the identification of actual and potential conflicts relevant to benchmark administrators and consider global benchmark administration models that may work given the market constraints existing in New Zealand. Read the Scoping Document

Fall-back Benchmark Rate

The OCR has been confirmed as New Zealand's fall-back benchmark rate following market consultation and NZFMA Working Group meetings that assessed a variety of possible options. The Reserve Bank of New Zealand have confirmed the OCR may be used as the fall-back rate if required. Read the Consultation/Assessment

NZFMA News and Events

The FMA released the Bank Bill Benchmark Rate and Closing Rates Guidance Note in October 2017.  Read more

The 2019 NZ Financial Markets Charity Golf Classic was held at Centennial Golf Club, Taupo and Hilton Lake Taupo on 13-15 September, raising over $50,000 for The Neonatal Trust.

We will return to Wairakei Golf + Sanctuary for the 2020 event to be held 6-8 November.

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Data Summary

RATES as at 18/10/2019
Delayed Data

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