Interbank Market for Icelandic Kronur

More detailed data for interbank market for Icelandic Krónur can be found in the Databank.

Data for interbank market for Icelandic Kronur are collected with the aim of monitoring the development for domestic currency. The Cent­ral Bank also uses the data in its op­er­a­tions and for analytical purposes.

Data collection is carried out on the basis  of the Rules on interbank transactions, no. 1196/2019,  on interbank transactions in ISK Icelandic, which are established according to the authorisation in Article 18(3) of the Act on the Central Bank of Iceland, no. 92/2019.

Data are obtained through daily reports on turnover from interbank market participants. Participants in the interbank market for Icelandic krónur (ISK) may be financial undertakings licensed to operate pursuant to the Act on Financial Undertakings, No. 161/2002,  and branches of financial undertakings outside the European Economic Area that have been authorised by the Financial Supervisory Authority in Iceland.

Interbank market participants for krónur send to the Central Bank notifications of contracts as soon as they have taken place. The data is therefore based on actual transactions between the parties. Reports on turnover from interbank market participants for krónur are recorded in a database and broken down by contract duration. The party who is contacted, sends a notification to the Central Bank about the transaction.

Data are not revised except when the previously submitted data are corrected by the reporter.