

Monetary Policy Committee statement and webcast tomorrow, 22 March 2023
A statement of the Central Bank Monetary Policy Committee (MPC) will be published on the Bank‘s website tomorrow 22 March at 8:30 hrs. At 9:30 hrs, a webcast presentation will be aired where Ásgeir Jónsson, Governor and Monetary Policy Committee chair, and Rannveig Sigurðardóttir, Deputy Governor for Monetary Policy, explain the statement and the rationale behind the Committee´s decision.


Increase in countercyclical capital buffer
New Central Bank Rules on Countercyclical Capital Buffers for Financial Undertakings, no. 256/2023, which were approved at the Financial Stability Committee’s (FSN) 14 March 2023 meeting, were published today in the Law and Ministerial Gazette [Stjórnartíðindi]. With the new Rules, the value of the countercyclical capital buffer is increased from 2% to 2.5% of the risk base for financial institutions’ domestic exposures. The increase will take effect twelve months from now.


Financial Stability report published
The Financial Stability report of the Central Bank of Iceland, first issue 2023, has been published. 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.


Statement of the Central Bank of Iceland Financial Stability Committee 15 March 2023
The Icelandic financial system is on a solid footing. The systemically important banks have delivered solid results and they have supported households and businesses Their capital and liquidity positions are strong. However, households’ and businesses’ financial conditions are tightening because of high inflation and interest rates. The outlook is for inflation to be stubbornly high and debt service burdens to grow heavier.


Statement of the Financial Stability Committee and publication of Financial Stability report - today
A statement of the Financial Stability Committee was published on the Central Bank of Iceland website today at 8:30 hrs. The banks Financial Stability Report was published at 8:35. At 9:30, a press conference on the statement and the contents of the Financial Stability Report will be held.
