This investment demand was a reason that we used tiers to manage settlement cash historically, however, changes in the amount of government bonds outstanding since the GFC mean that this is now less of a concern. Prior to the GFC, outstanding NZGBs were only around 10% of GDP.
A public version was released last September, sharing the report’s overarching conclusions and key findings. Second. Despite the pandemic, the AMLC continues to strengthen its ties with other government agencies to further effective and efficient coordination.