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Information release

Wholesale Funding Guarantee Facility Guarantees

Issue date: 
Sunday, 30 May 2010
Status: 
Superseded
Corporate author: 

Information on the wholesale funding guarantee facility that the government announced on 1 November 2008, including details of institutions in respect of which the Crown has signed a wholesale funding guarantee deed.

The Treasury and Reserve Bank have released here both policy and operational guidelines for the wholesale funding guarantee facility.

Wholesale Funding Guarantee Has Ended

The Government closed New Zealand's wholesale funding guarantee on 30 April 2010.

Read the Treasury’s media statements:

Read the Minister of Finance’s media statement on the Beehive website: Wholesale funding guarantee to end on 30 April (10 March 2010).

Approved Institutions

The Crown has signed a wholesale funding guarantee deed in respect of the following institutions: ANZ National Bank Limited, Bank of New Zealand, Westpac New Zealand Limited, Kiwibank Limited and ASB Bank Limited.

 

Some documents are available in Adobe PDF format only. HTML versions can be supplied on request from Information Services. Using PDF Files
Doc. Date Institution/Title Download
23 Dec 2008 ANZ National Bank Limited - Wholesale Funding Guarantee Deed
Released 23 December 2008. Deed signed on 23 December 2008 and supplemental deed signed 19 February 2009.

23 Dec 2008 ANZ National Bank Limited - Treasury Solicitor's Opinion
Released 23 December 2008. Updated 25 February 2009.

19 Dec 2008 Bank of New Zealand - Wholesale Funding Guarantee Deed
Released 19 December 2008. Deed signed on 19 December 2008 and supplemental deed signed 17 February 2009.

19 Dec 2008 Bank of New Zealand - Treasury Solicitor's Opinion
Released 19 December 2008. Updated 25 February 2009.

23 Feb 2009 Westpac New Zealand Limited - Wholesale Funding Guarantee Deed
Released 24 December 2008. Deed signed on 23 February 2009.

25 Feb 2009 Westpac New Zealand Limited - Treasury Solicitor's Opinion
Released 26 February 2009.

24 Mar 2009 Kiwibank Limited - Wholesale Funding Guarantee Deed
Released 25 March 2009. Deed signed on 24 March 2009.

25 Mar 2009 Kiwibank Limited - Treasury Solicitor's Opinion
Released 27 March 2009.

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19 Jun 2009 ASB Bank Limited - Wholesale Funding Guarantee Deed
Released 22 June 2009. Deed signed on 19 June 2009.

22 Jun 2009 ASB Bank Limited - Treasury Solicitor's Opinion
Released 23 June 2009.

 

 

Eligibility Certificates

The Crown has issued the following Eligibility Certificates.

Some documents are available in Adobe PDF format only. HTML versions can be supplied on request from Information Services. Using PDF Files
Date Granted Institution Certificate Number ISIN Identification Download
19 Feb 2009 Bank of New Zealand 0002B NZBNZDT258C2

9 Mar 2009 Bank of New Zealand 0002C NZBNZDT258C2

30 Mar 2009 ANZ National Bank Limited 0003A US00182UAA16

20 May 2009 Bank of New Zealand 0002D XS0429879561

21 May 2009 Bank of New Zealand 0002D XS0429880221

22 May 2009 Westpac New Zealand Limited 0007C US9612EAAA35 & XS0431048023

29 May 2009 Bank of New Zealand 0002D XS0431903425

3 Jun 2009 Bank of New Zealand 0002H XS0432644606

12 Jun 2009 Bank of New Zealand 0002G XS0430851310

3 Jul 2009 ANZ National Bank Limited 0003B XS0437868069

6 Jul 2009 Bank of New Zealand 0002I NZBNZDT258C2

10 Jul 2009 Bank of New Zealand 0002J XS0440221330

13 Jul 2009 ANZ National Bank Limited 0003C XS0438477084

15 Jul 2009 Westpac New Zealand Limited 0007E NZWNZD0714L4

21 Jul 2009 Westpac New Zealand Limited 0007G NZWNZD0714L4

23 Jul 2009 Westpac New Zealand Limited 0007F US9612EAAB18 & XS0442194923

4 Aug 2009 Westpac New Zealand Limited 0007G NZWNZD0714L4

6 Aug 2009 ANZ National Bank Limited 0003D US00182UAB98 & US00182VAB71

6 Aug 2009 ANZ National Bank Limited 0003E US00182UAA16 & US00182VAA98

20 Aug 2009 ANZ National Bank Limited 0003F US00182UAD54

28 Sep 2009 ANZ National Bank Limited 0003G XS0454180067

16 Oct 2009 Kiwibank Limited 0008A AU3CB0131050

19 Nov 2009 ANZ National Bank Limited 0003H XS0467851936

11 Feb 2010 Westpac New Zealand Limited 0007I XS0487609611

Documents

Some documents are available in Adobe PDF format only. HTML versions can be supplied on request from Information Services. Using PDF Files
Doc. Date Created by Title Download
26 Mar 2009 The Treasury Media Statement - Wholesale Guarantee Scheme fees reduced  
27 Jan 2009 The Treasury Operational Guidelines: New Zealand Wholesale Funding Guarantee Facility
Released 1 November 2008. Updated 26 March 2009. Changes made since 1 November 2008 are highlighted.

27 Jan 2009 The Treasury Media Statement - Wholesale Guarantee Scheme fees reduced  
23 Dec 2008 The Treasury Policy Guidelines - Crown Wholesale Funding Guarantee Scheme
Released 23 December 2008. The Minister of Finance has approved an amendment to the Policy Guidelines used by officials when assessing applications for the Crown Wholesale Funding Guarantee Scheme. The amendment relates to the Issue by Issue matters in part 5.2 and the impact on Crown borrowing. The Policy Guidelines set out the types of institutions that should be eligible for the guarantee and what criteria and other factors may be considered by officials when assessing applications for inclusion in the scheme and issues of securities under the scheme. The list of factors which may be considered is non-exhaustive and officials may consider any other factors if they are relevant. Officials will assess each application on an individual basis.

15 Dec 2008 The Treasury Final Specimen Deed - Crown Wholesale Funding Guarantee
Updated 14 February 2009. This describes the terms of each Crown Wholesale Funding Guarantee. This specimen incorporates changes to the specimen Deed released on 11 November 2008 and 19 February 2009 that are included for operational reasons. Note that further covenants may be required by the Crown.

15 Dec 2008 The Treasury Final Specimen Deed - Crown Wholesale Funding Guarantee Facility
Updated 15 December 2008. This describes how approved entities can obtain the Crown Wholesale Funding Guarantee for certain issues of debt securities. This specimen incorporates changes to the specimen Deed released on 11 November 2008 that are included for operational reasons. Note that further covenants may be required by the Crown.

2 Dec 2008 The Treasury Information Release - Crown Retail Deposit Guarantee Scheme and Wholesale Funding Guarantee Facility
Documents relating to the development of government policy on the retail deposit guarantee scheme and the wholesale funding guarantee facility.
 
17 Nov 2008 The Treasury Application Form - Crown Wholesale Funding Guarantee Facility
Released 14 November 2008. Additional information may be required by the Crown in relation to any application. Applicants should regularly check this website for updates in that regard.

1 Nov 2008 The Treasury & Reserve Bank Media Statement: Wholesale Guarantee Facility - Details  
1 Nov 2008 Minister of Finance Wholesale Funding Guarantee Facility
Media statement by Hon Dr Michael Cullen, Minister of Finance on the Beehive website.
 

Contacts for Enquiries

 

For media enquiries:

 

Angus Barclay | Senior Communications Advisor
Tel: +64 4 917 6146
Email: angus.barclay@treasury.govt.nz
Last updated: 
Friday, 30 April 2010