The Reserve Bank of New Zealand announced an end to the last remaining temporary emergency liquidity facility from December 1, nearly nine months after closure was planned. The facility, a Tuesday Open Market Operation, involves repurchase transactions for maturities of up to three months. It is being removed because it has been little used recently. In October last year, the RBNZ, when removing other temporary liquidity facilities, said the weekly OMO would continue until the end of March 2010, when it would be reviewed with a view to discontinuing it if market conditions allowed. The next step for the RBNZ is to review the securities it accepts for repos. These came about when it expanded the range and credit quality of acceptable securities as part of the measures initiated during the global financial crisis.