News

30.6.2010 : FSA and Central Bank of Iceland issue guidelines to financial undertakings

Instead of linking to foreign exchange rates and interest rates, the loans shall be based on interest rates determined by the Central Bank of Iceland. Read more
 

23.6.2010 : Policy rate lowered by 0.5% to 8.5% - MPC statement

Deposit rate will also be lowered to 6.5%, max. bid rate of 28-day CDs to 7.75% and overnight lending rate to 9.5%. Read more
 

16.6.2010 : Iceland announces invitation to buy back outstanding Euro notes due in 2011 and 2012

The Republic is willing to buy back notes for up to 300 million Euros due in 2011 and 2012. Read more
 

15.6.2010 : Statistics Iceland economic forecast 2010-2015

The forecast assumes a contraction of 2.9% in GDP in 2010 but positive growth is expected from 2011-2015, Read more
 

9.6.2010 : China and Iceland sign a bilateral currency swap agreement

The amount of the agreement is 3.5billion CNY/66billion ISK and has a 3 year maturity with possibilities for an extension if both parties agree. Read more
 

2.6.2010 : Central Bank publishes report on Financial Stability 2010

The report reviews the main factors affecting the strengths and weaknesses of the Icelandic financial system. Read more
 

31.5.2010 : Pension funds purchase Treasury's HFF bonds to strengthen FX reserves

The purchase will strengthen FX reserves by 17% or 512 million euros and paves the way for the removal of capital controls. Read more
 

19.5.2010 : Central Bank of Iceland purchases króna assets of Banque centrale du Luxembourg

According to the agreement the Central Bank of Iceland purchases 120 b.kr. or 25% of all króna-denominated assets owned by non-residents. Read more
 

5.5.2010 : Policy rate lowered by 0.5% to 8.5% - MPC statement

Deposit rate will also be lowered to 7.0%, max. bid rate of 28-day CDs to 8.25% and overnight lending rate to 10.0%. Read more
 

3.5.2010 : Central Bank amends rules on foreign exchange

The amendments primarily involve changes in wording so as to ensure consistency in interpretation. Read more
 

27.4.2010 : Moody´s Annual Report on Iceland

The report is released following Moody´s upgrade on Iceland´s credit rating from negative to stable on 23 April 2010. Read more
 

23.4.2010 : Moody´s changes Iceland´s credit rating outlook to stable

Change of outlook was driven by improvement in Iceland´s external liquidity due to restoration of financing from the IMF and Nordic governments. Read more
 

16.4.2010 : IMF completes second review of Iceland´s economic program

The completion of the second review enables the release of US$1.2 billion in funding. Read more
 

30.3.2010 : Birna Einarsdóttir elected new Chair of SFF

Birna Einarsdóttir, CEO of Íslandsbanki Ltd., accepts the Chair from Sigurður Viðarsson, CEO of TM Insurance Ltd. who was elected Vice-Chair. Read more
 

17.3.2010 : Policy rate lowered by 0.5% to 9.0% - MPC statement

Deposit rate will also be lowered to 7,5%, max. bid rate of 28-day CDs to 8,75% and overnight lending rate to 10,5%. Read more
 

16.3.2010 : Total National Treasury debt at year-end 2009

Total debt was 78% and net debt 39% of GDP. Total Treasury finances are projected to be in balance by 2012 and in surplus in 2013. Read more
 

8.3.2010 : Standard & Poor´s confirms Iceland sovereign rating with negative implications

Iceland's sovereign rating is BBB-/A-3 foreign currency ratings and BBB+/A-2 local currency rating. Read more
 

6.3.2010 : Work continues on a mutually acceptable solution to Icesave

The three governments of Iceland, UK and Netherlands have declared their intention to continue the talks and find a solution to the matter. Read more
 

5.3.2010 : Icesavetalks adjourned

Iceland remains committed to a continued dialogue and is hopeful that discussions will resume as early as next week. Read more
 

15.2.2010 : Icesave issue discussed in London

Iceland proposed a new solution to the Icesave dispute based on an agreement between government and opposition parties in Iceland. Read more
 

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