Meeting of the Financial Stability Council
The Financial Stability Council met on Thursday 6 April at the Ministry of Finance and Economic Affairs. The topic of the meeting was risk in the financial system and the macroeconomic outlook. The Council decided to recommend that the Financial Supervisory Authority keep the countercyclical capital buffer on domestic exposures unchanged at 1.25%.
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Financial Stability 2017/1
Financial Stability, 2017/1, has been posted on the Central Bank of Iceland website. The Bank’s semi-annual Financial Stability report presents an overview of the position of the financial system, its strengths and potential weaknesses, and the macroeconomic and operational risks it may face. Financial Stability is also published in Icelandic under the title Fjármálastöðugleiki.
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Financial Stability published today at 11:00 hrs.
Financial Stability, The Bank’s semi-annual report will be published today and posted on the Bank's website at 11:00 hrs. The report presents an overview of the position of the financial system, its strengths and potential weaknesses, and the macroeconomic and operational risks it may face. In addition, it explains how the Central Bank carries out the tasks necessary for the operation of a sound and effective financial system. Financial Stability is also published in Icelandic under the title Fjármálastöðugleiki.
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Purchase of offshore krónur by the Central Bank of Iceland
With reference to press releases issued by the Central Bank on 12 and 23 March 2017, the Bank offers to purchase offshore króna assets as these are defined in the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, for cash euros, at an exchange rate of 137.5 krónur per euro. This offer applies to deposits, bills, and bonds issued by the Treasury or the Housing Financing Fund (HFF), and the Central Bank certificates of deposit (CBI2016) (ISIN IS0000027068). Offshore króna assets in the form of deposits shall be exchanged for Central Bank certificates of deposit prior to the transaction. The price of offshore króna assets will be based on the best bid at the close of business on 10 March 2017, as is specified in the table below, plus accrued interest at the settlement date. All payments on behalf of the Central Bank will be made through the intermediation of Morgan Stanley in London.
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