29.01.2016

Governor's OMFIF City Lecture

Central Bank of Iceland Governor Már Guðmundsson gave an Official Monetary and Financial Institutions Forum City Lecture in London, on 28 January 2016.

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25.01.2016

The first meeting of the Financial Stability Council in 2016

The first meeting of the Financial Stability Council in 2016 was held on Friday 22 January at the Ministry of Finance and Economic Affairs. The topic of the meeting was risk in the financial system. It was revealed that the outlook is for increased imbalances in the domestic economy in the coming term. System-wide credit growth is still within modest limits, but it is likely that demand for credit will grow in the near future. The interactions between macroeconomic imbalances and credit growth could have a negative impact on the financial system. The banks’ resilience is still considerable, but their liquidity is being monitored carefully, particularly in view of the settlement of the failed banks’ estates and the upcoming auction in connection with the release and tie-up of offshore krónur.

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18.01.2016

Domestic foreign exchange market and foreign exchange reserves 2015

In 2015, the króna appreciated by 7.9%, foreign exchange market turnover grew 85%, and the Central Bank’s share of market turnover was 55%. The Bank’s foreign exchange reserves increased by 123 b.kr. during the year, to an end-2015 balance of 653 b.kr. The increase in the reserves was due predominantly to the Bank’s net foreign currency purchases, which totalled 272 b.kr. during the year; however, it was offset by the Treasury’s buyback of its own foreign-denominated bonds and prepayment of the outstanding balance of the loan from the International Monetary Fund.

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18.01.2016

Monetary Policy Committee report to Parliament

The Monetary Policy Committee report to Parliament on the Committee's work during the latter half of 2015 has been published on the Central Bank’s website.

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15.01.2016

Fitch Affirms Iceland at BBB+; Outlook Stable

Fitch Ratings has affirmed Iceland‘s Long-term foreign and local currency IDRs at BBB+ and A- respectively with a Stable Outlook. The issue ratings on Iceland‘s senior unsecured Foreign- and Local-Currency bonds are also affirmed at BBB+ and A- respectively. The Country Ceiling is affirmed at BBB+ and the Short-Term Foreign-Currency IDR at F2.

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