08 September 2008

Exchange of certificates of deposit

In a June 19, 2008 press release, the Central Bank of Iceland announced that it would continue to issue certificates of deposit when the certificates issued in March mature in late September 2008. The Central Bank has decided to offer an exchange on September 24, the maturity date for the series SI 08 0924. Upon delivery of certificates of deposit in that series, owners will have the opportunity to receive new six-month certificate deposits on the same terms as the maturing CDs. The CDs will be transferable, like those issued in March, and the new series will mature on March 25, 2009.

In the September exchange, the Central Bank of Iceland will not sell certificates of deposits in excess of those to be reissued.
Further information can be obtained from Gerdur Ísberg, Deputy Director of the International and Market Department of the Central Bank of Iceland, at tel: +354 569-9600.

No. 24/2008
September 8, 2008