3 Jul 2009

New liquidity rules expected to have little impact

7:03 am on 3 July 2009

The Reserve Bank says new liquidity rules designed to shore up the banking system will have only a marginal impact on borrowing costs.

The rules issued this week, require at least 75% of banks' funding to come from retail deposits and longer term wholesale sources.

Reserve Bank deputy governor Grant Spencer says some banks are already in compliance with the new rules.