News all years

20. January 2020

Monetary Policy Committee report to Parliament

The Central Bank Monetary Policy Committee’s (MPC) report to Parliament (Alþingi) on the Committee’s work in H2/2019 has been posted to the Bank’s website. The report is supplemented by a wide range of supporting material spanning 178 pages. Furthermore, for the first time, the MPC report is accompanied by reports from the Committee’s external members. As is stated in the Committee’s report on responses to some of the proposals from the task force on the review of the monetary policy framework, published in December 2018, each external Committee member will also send a separate report annually to Parliament.

14. January 2020

Foreign exchange market, exchange rate developments, and international reserves 2019

The króna depreciated by 3.1% in 2019. Turnover in the interbank foreign exchange market totalled 188.3 b.kr. Bank’s turnover in the interbank market totalled 7.6% in 2019. The Bank's international reserves increased by roughly 86 b.kr. in 2019, to 822 b.kr. by the year-end. The Central Bank’s foreign exchange balance – i.e., the difference between the Bank’s foreign-denominated assets and liabilities – was positive by approximately 646 b.kr. at year-end 2019, as opposed to 627 b.kr. at the end of 2018.

09. January 2020

New organisational chart for the Central Bank of Iceland

A new organisational chart for the Central Bank of Iceland took effect yesterday, 8 January 2020, on the basis of the new Act on the Central Bank of Iceland, no. 92/2019. As is provided for in the Act, the Central Bank and the Financial Supervisory Authority merged at the beginning of 2020. Under the new organisational structure, some departments have been abolished or merged, some employees have been transferred between departments, and eight positions have been eliminated.

04. January 2020

First meeting of the Central Bank Financial Supervision Committee

The first meeting of the Financial Supervision Committee was held today at the Central Bank of Iceland. The Financial Supervision Committee takes decisions entrusted to the Financial Supervisory Authority by law and Governmental directives. The Committee’s rules of procedure were approved at today’s meeting.

02. January 2020

Financial Supervisory Authority and Central Bank of Iceland merge

The Financial Supervisory Authority and the Central Bank of Iceland merged at the turn of the year, under the name Central Bank of Iceland. The merger gives rise to a strong and independent institution whose objective is to enhance trust, transparency, and efficiency in the administration of economic affairs and financial supervision in Iceland.

02.01.2020

Amended Rules on Foreign Exchange — Removal of restrictions on cross-border movement of capital pursuant to reduction in special reserve ratio

02.04.2019

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

04.03.2019

Amending bill of legislation - liberalisation of capital controls on offshore króna holders and reserve requirement on capital inflows

03.12.2018

Merger of Central Bank of Iceland and Financial Supervisory Authority in preparation - Inflation targeting to remain the principal objective of monetary policy

05.10.2018

Special Publication no. 11: Monetary policy based on inflation targeting: Iceland's experience since 2001 and post-crisis changes

06.09.2017

Amendments to the Rules on Foreign Exchange - Restrictions on carry trade-related risk and foreign issuance of króna-denominated bonds

23.06.2017

The Central Bank of Iceland has sent the Government a report on inflation below the lower deviation limit of the inflation target

07.09.2016

Purchase of State-guaranteed bonds in connection with the results of the Central Bank of Iceland foreign currency auction of 16 June 2016

21.06.2016

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency, posted 13 June 2016

13.06.2016

Moody's places Iceland's Baa2 sovereign rating on review for upgrade

10.06.2016

Purchase price for State-guaranteed securities in connection with the Central Bank of Iceland foreign currency auction of 16 June 2016

09.06.2016

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency

08.06.2016

Bjarni Benediktsson, Minister of Finance and Economic Affairs: address at the Annual Meeting of the Central Bank of Iceland

26.03.2015

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency

19.01.2015

Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency.

19.12.2014

Central Bank grants LBI hf. an exemption for payments to priority creditors following agreement amending Landsbankinn-LBI bond

04.12.2014

Bjarni Benediktsson, Minister of Finance and Economic Affairs: address at the Annual Meeting of the Central Bank of Iceland

27.03.2014

Drómi, ESÍ, and Arion Bank conclude settlement agreements - Drómi settles with Arion, which acquires Drómi and Hilda’s household loans

30.12.2013

Moody‘s: Iceland - Mortgage Debt-Relief Plan Is Credit Positive for Housing Financing Fund, Without Detriment to Sovereign Creditworthiness

16.12.2013

The Central Bank of Iceland's reply to the Parliamentary Ombudsman's letter regarding the guidelines issued to financial institutions by the Financial Supervisory Authority and the Central Bank of Iceland.

23.07.2010

International Monetary Fund visit to Iceland 19 - 22 July 2010

07.07.2010

The minutes of the MPC from the decision of 23 June 2010

01.07.2010

Introduction about guidelines issued to financial institutions due to non-binding clauses linking loans to the exchange rate

30.06.2010

IMF Completes First Review Under Stand-By Arrangement with Iceland, Extends Arrangement, and Approves US$167.5 Million Disbursement

26.10.2009

Moody's says Icesave amendment supports fiscal sustainability. Amendment to agreement mildly positive for rating, but negative outlook remains

20.08.2009

Written statement from the Central Bank of Iceland on the Icesave agreements and information on the debt service burden of foreign loans

16.07.2009

Statement of the Central Bank of Iceland Monetary Policy Committee: Continued monetary easing conditional on favourable exchange rate developments

04.06.2009

AII Statement of the Central Bank of Iceland Monetary Policy Committee: Cautious easing of monetary policy is now appropriate

19.03.2009

Statement of the Central Bank of Iceland Monetary Policy Committee: Cautious easing of monetary policy is now appropriate

19.03.2009

Monetary policy statement of the Board of Governors of the Central Bank of Iceland: Of vital importance to stabilise the foreign exchange market and strengthen the króna

28.11.2008

Press Conference September 11, 2008: Monetary policy statement by the Board of Governors of the Central Bank of Iceland and translation of the main questions and answers

11.09.2008

Press Conference July 3, 2008: Monetary policy statement by the Board of Governors of the Central Bank of Iceland: Policy rate remains unchanged

04.07.2008

Board of Governors' Press Conference Thursday May 22, 2008 - The Bank's assessment and an abbreviated translation of the main questions and answers

22.05.2008

Board of Governors' Press Conference Thursday May 8, 2008 - The Bank's assessment and an abbreviated translation of the main questions and answers

08.05.2008

Board of Governors' Press Conference Thursday April 10, 2008 - an abbreviated translation of the main questions and answers

10.04.2008

Standard & Poor's Ratings Services placed its ratings on the Sovereign of Iceland on credit watch with negative implications

01.04.2008

Board of Governors: Press Conference Thursday December 20, 2007 - an abbreviated translation of the main questions and answers

20.12.2007

Address by Davíð Oddsson, Chairman of the Board of Governors of the Central Bank of Iceland, at the Bank's annual meeting March 30, 2007

30.03.2007

Standard & Poor´s Ratings Services assigned its AA- senior unsecured debt rating to the Republic of Iceland´s debut euro-denominated bond

21.11.2006

Fitch Ratings today assigned the Republic of Iceland´s debut EUR1bn benchmark bond an Issuer Default rating (IDRs) of AA-

21.11.2006

Speech by Davíð Oddsson, Chairman of the Board of Governors of the Central Bank of Iceland, at the annual meeting of the National Federation of Pension Funds

18.05.2006

Standard & Poor's affirms Iceland's AA-/A-1+ foreign currency sovereign rating on Healthy Public Finances; Outlook Stable

24.10.2005