The debt crisis in Europe has prompted the Reserve Bank to increase the availability of credit in New Zealand for banks finding it hard to source loans.
Records show that close to $500 million of credit was made available on Monday and Tuesday, which was the most the Reserve Bank has offered in a 48-hour period for seven months.
Last October, banks struggled to raise funds as Dubai's debt problems weighed down the money markets.
BNZ economist Craig Ebert says the European debt crisis spooked the markets again early this week, but a trillion-dollar support package for countries using the euro has eased concerns for now.
