Removal of capital controls on holders of offshore krónur and reduction of special reserve requirement on capital inflows

Central Bank of Iceland

Act no. 14/2019, which amends the Foreign Exchange Act, no. 87/1992, and the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions, no. 37/2016, was published in the Law and Ministerial Gazette (Stjórnartíðindi) on 4 March 2019; cf. the notice on the Law and Ministerial Gazette website. The amendments entailed in the Act were announced in a press release posted on the Central Bank website on 7 December 2018, when the bill of legislation was introduced. The Act will enter into force tomorrow, 5 March 2019.

Interesting

20.03.2019

Statement of the Monetary Policy Committee 20 March 2019

19.03.2019

Interest rate decision and webcast

05.03.2019

New Rules published on special reserve requirements and treatment of króna-denominated assets

Key int. rate: 4.5%

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20.03.2019

Statement of the Monetary Policy Committee 20 March 2019

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...More

19.03.2019

Interest rate decision and webcast

05.03.2019

New Rules published on special reserve requirements and treatment of króna-denominated assets

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Annual meeting 2019 and Annual Report release

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Publication of Economic Indicators

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Publication of Financial Stability 2019/1

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