Organisational changes went into effect at the Central Bank of Iceland on September 1. The Monetary Department, which handled all the Central Bank’s domestic market operations, and the International Department, which handled foreign market transactions, were merged. All Central Bank market operations and transactions are now handled by the new International and Market Department. At the same time, the Information Technology Unit, which had been part of the Operations Department, was transferred to the Statistics Department. One of the main aims was to upgrade the Central Bank’s electronic data collection and automate processes further. Tómas Örn Kristinsson, previously Director of the Monetary Department, became Director of the new Statistics Department. Sturla Pálsson is acting Director of the International and Market Department. He was previously acting Director of the International Department.

For further information, contact the Board of Governors of the Central Bank of Iceland on tel. (+354) 569-9600.

No. 34/2006

September 5, 2006