A  16  Reserve Bank of New Zealand (2020k): Reserve Bank to begin Large Scale Asset Purchases. Ref #9122402 v2.12  13  continued absence of secondary market liquidity was creating a real risk that primary issuance in New Zealand’s debt capital market – a key channel of monetary policy – could be closed for a prolonged period.
On 6 April, LGFA bonds were added to our BMLS scheme, and we began asking wholesale market intermediaries for offers to sell LGFA in conventional sized parcels of $ to $ 17 On 7 April, following another extraordinary MPC meeting, LGFA bonds were also added to the LSAP programme, enabling purchases up to $ billion.