Market Notice No:042024
Date: 09 December 2024
New Zealand Financial Benchmark Facility Limited (NZFBF), as benchmark administrator of the Bank Bill Benchmark Rate (BKBM), Closing Rate Benchmarks, and the OCR Compound Index, recently undertook the 2024 annual reviews for all of these benchmarks. These 2024 annual reviews were conducted by NZFBF in consultation with the BKBM Committee, Credit Market Committee and Closing Rate Working Group.
These reviews encompassed the day-to-day operation and administration of Benchmarks, the Operating Rules, Guidelines and Principles, and the methodologies across the suite of Benchmarks administered by NZFBF.
The outcome across these three reviews was that all benchmarks continue to operate effectively, transparently, and remain representative of the markets they intend to represent. There were a few non-material changes that resulted from the reviews. These non-material changes, along with a general update of the operations and methodology documents, have been included in the relevant Benchmark documents.
Per the benchmark Operating Rules, Guidelines & Principles, these non-material changes and documentation updates will be enacted on 23 December 2024. For further details on the updates please refer to the relevant documentation on the NZFBF website.
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If you have any questions or comments, please email or phone (+64 4 333 1377) the NZFBF team.