29 Jan 2009

Reserve Bank, Treasury briefing overseas fund managers

10:22 am on 29 January 2009

Reserve Bank and Treasury officials are touring world financial centres, to encourage lenders to continue doing business with New Zealand banks.

Briefings of fund managers on the New Zealand Government's wholesale funding guarantee will be held in Hong Kong, London and New York.

New Zealand banks rely on overseas lenders for about 40% of their funds.

Until recently it's been difficult to secure loans for more than a couple of days.

Treasury says it's more than a decade since New Zealand last made such an effort to sell itself overseas.