The Reserve Bank of New Zealand said on Tuesday it saw no immediate need to request the reinstatement of a U.S. dollar swap line that expired in 2021.

“During uncertain times the U.S. Federal Reserve has the ability to offer USD liquidity facilities to other central banks around the world to support smooth market functioning,” the bank said in an emailed statement.

“New Zealand last had access to this facility in response to the market disruption from COVID, however the facility is currently not in place for New Zealand, having expired at end of 2021 and we do not see an immediate need to request its reinstatement.”

The RBNZ said it was continuing to monitor developments in financial markets closely.

source: Reuters