23.03.2017

Information on planned purchase of offshore krónur by the Central Bank

When the Central Bank's agreement with owners of offshore krónur was announced on 12 March 2017, it was also announced that offshore króna holders that had not made such an agreement with the Bank would be invited to enter into the same type of agreement. Preparations for transactions with other owners of offshore krónur are underway, and further information will be forthcoming in the next few days. It should be noted that the offer period for accepting the Bank's invitation to participate in such transactions will not begin until further information on the arrangements is published.

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17.03.2017

S&P Research Update: Republic of Iceland Ratings Raised To 'A/A-1' On Lifting Of Capital Controls; Outlook Stable

S&P has raised Republic of Iceland Ratings to 'A/A-1' on lifting of capital controls. Outlook is stable. S&P say they believe that the recent lifting of most of the remaining capital controls and the conclusion of an agreement with the owners of offshore krona assets strengthen Iceland's external profile.

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17.03.2017

Moody‘s Investors Service, Issuer Comment on the Government of Iceland

Today Moody‘s Investors Service issued a Comment on the Government of Iceland: Elimination of Capital Controls is Credit Positive for the Sovereign and the Financial Sector. It can be accessed here.

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15.03.2017

Statement of the Monetary Policy Committee 15 March 2017

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 5%.

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12.03.2017

New Rules on Foreign Exchange

New Rules on Foreign Exchange were published on the Central Bank of Iceland website today. The Rules will be published in the Law and Ministerial Gazette tomorrow and will take effect the following day, 14 March 2017. With the new Rules, the restrictions on foreign exchange transactions and cross-border movement of domestic and foreign currency have largely been lifted.

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