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Amended Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency.
![Central Bank of Iceland Central Bank of Iceland](/library/Ljosmyndir_ENG/Hus_ad_utan_ENG/sedlabankinn_sumar.jpg?proc=AdalmyndFrett)
The Central Bank of Iceland has amended the Terms of Auction for the Bank’s purchase of Icelandic krónur in exchange for foreign currency. The auction that was announced on 9 December 2014 will be held on 10 February 2015.
The amendment authorises commercial banks to collect offers based on non-residents’ ISK assets deriving from domestic bankruptcy estates’ payments on claims recognised according to Articles 109-112 of the Act on Bankruptcy, etc., no. 21/1991. No other substantive amendments have been made to the Terms of Auction.
The objective of the amendment is to enable foreign creditors to participate in the auction using funds deriving from a bankruptcy estate’s payments on recognised priority claims.
Further information can be obtained from Már Guðmundsson, Governor of the Central Bank of Iceland, at tel: +354 569-9600.
Attachments:
Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for foreign currency. Transaction date: 10 February 2015
No. 46/2014
19 December 2014