Information release

Wholesale Funding Guarantee Facility

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.

Media Statements#

Accessible versions

Documents are available in Adobe PDF format only. Please contact [email protected] to request HTML versions.

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.

Wholesale Funding Guarantee Facility: Approved Institutions documents
Doc. Date Sort ascending Creator Title
The Treasury
ASB Bank Limited; Government of New Zealand
The Treasury
The Treasury
Government of New Zealand; Westpac New Zealand Limited
Government of New Zealand; Kiwibank Limited
ANZ National Bank Limited; Government of New Zealand
The Treasury
ANZ National Bank Limited; Government of New Zealand
The Treasury

Eligibility Certificates#

The Crown has issued the following Eligibility Certificates. The certificates of eligibility documents are available in a separate table below.

Wholesale Funding Guarantee Facility: Eligibility Certificates summary details
Date Granted Institution Certificate Number ISIN Identification
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

Eligibility Certificates Documents#

Wholesale Funding Guarantee Facility: Eligibility certificates documents
Doc. Date Sort ascending Creator Title
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand
Government of New Zealand

General Documents#

Wholesale Funding Guarantee Facility - General documents

Doc. Date Sort ascending Creator Title
The Treasury
Released 1 November 2008. Updated 26 March 2009. Changes made since 1 November 2008 are highlighted.
The Treasury
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.
The Treasury
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.
The Treasury
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.
The Treasury
Additional information may be required by the Crown in relation to any application. Applicants should regularly check this website for updates in that regard.
Contact for Enquiries

Email: [email protected]