New committed credit line for the Central Bank of Iceland
On February 11, 2002, the Central Bank of Iceland signed an agreement with the Union Bank of Norway on a USD 200 million committed revolving credit facility. The facility has a maturity of five years. It supplements other committed credit facilities of the Central Bank which now amount to a total of roughly USD 900 million, virtually all of them undrawn.
The facility serves as a backup for the currency reserves of the Central Bank and further strengthens the Bank's external position.
February 12, 2002