Meginmál

New committed credit line for the Central Bank of Iceland

New committed credit line for the Central Bank of Iceland

NOTE: This article is from 12. February 2002 and is therefore more than 5 years old.

On February 11, 2002, the Central Bank of Iceland signed an agreement withthe Union Bank of Norway on a USD 200 million committed revolving creditfacility. The facility has a maturity of five years. It supplements othercommitted credit facilities of the Central Bank which now amount to a total ofroughly USD 900 million, virtually all of them undrawn.

The facility serves as a backup for the currency reserves of the Central Bankand further strengthens the Bank's external position.

Nr. 2/2002

February 12, 2002