28 July 2022

Foreign exchange transactions in compliance with the FX Global Code

In 2018, the Central Bank confirmed its compliance with the global code of conduct for the wholesale foreign exchange (FX) market, generally referred to as the FX Global Code.

The Code was updated by the Global Foreign Exchange Committee in July 2021. The Bank hereby confirms that it has acquainted itself with the updated Code and has taken steps to ensure that it adheres to the amended rules. The Bank encourages its counterparties in foreign exchange transactions to acquaint themselves with the updated Code and take appropriate action to ensure that they comply with it.

There is widespread international consensus on the substance of the FX Global Code, which is considered an important element in boosting confidence in foreign exchange market transactions. Further information on the Global Foreign Exchange Committee can be found here.

See here the statement of the Central Bank of Iceland: Statement of commitment. (Added 8 August, 2022)