Minutes of the Monetary Policy Committee meeting of 5 and 6 October 2020
In accordance with the Monetary Policy Committee Rules of Procedure, the minutes of the Committee's most recent meeting have been published on the Bank's website.
New interbank payment system launched at the end of the week
A new interbank payment system will be brought into use in Iceland on the evening of Friday 23 October. A large share of the financial transfers undertaken by individuals and companies in Iceland — i.e., debit card transactions and regular transfers of funds — are routed through the system, which services banks and financial institutions. The syste...
IMF Annual Meetings 2020
Ásgeir Jónsson, Governor of the Central Bank of Iceland, participated in the Annual meetings of the International Monetary Fund 12-18 October, 2020.
Statement of the Monetary Policy Committee 7 October 2020
The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 1%.
Announcement concerning Central Bank purchases of Treasury bonds
At the beginning of May 2020, the Central Bank of Iceland began buying Treasury bonds in the secondary market, in accordance with the 23 March 2020 statement by the Monetary Policy Committee. According to that decision, the total amount purchased may range up to 150 b.kr. The Bank will announce the maximum bond purchase amount for each quarter in a...
Central Bank to continue programme of regular foreign currency sales
From Thursday 1 October through the end of the month, the Central Bank of Iceland will sell 3 million euros per day to market makers in the interbank market for foreign exchange, for a total of 66 million euros during the month. The transactions will take place soon after the market opens in the morning, and no later than 10:00 hrs. They will be co...
Economic Indicators published
The Central Bank of Iceland has published Economic Indicators on its website. Economic Indicators contains a quarterly summary of economic developments, a compendium of statistics, and an update on the position of the financial system. Economic Indicators is also published in Icelandic under the title Hagvísar Seðlabanka Íslands.
Further information on the interim measure on distribution of NOVIS products
The Financial Supervisory Authority of the Central Bank of Iceland (FSA Iceland) makes reference to the 18 September 2020 press release on the interim measure announced by Národná banka Slovenska (National Bank of Slovakia, NBS) on products from NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, and NOVIS Po...
Financial Stability report published
The Financial Stability report, second issue 2020, has been posted on this website. The Financial Stability report, second issue 2020, has been posted on this website. 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 oper...
Statement of the Financial Stability Committee 23 September 2020
The battle to control the pandemic is proving more protracted than previously hoped, exacerbating uncertainty and adversely affecting financial institutions’ loan portfolios, says in the statement of the Financial Stability Committee. It is important that financial institutions work diligently on debt restructuring and that they use the scope provi...