Meginmál

Data for international reserves are published in accordance with a predetermined schedule and are posted at 09:00 hrs. on the publication date.

Data show the position at the end of the month and are available at a monthly frequency from October 2000.

The latest data is preliminary.

Inquiries can be sent to support@sedlabanki.is

Time series for international reserves in February 2025

Data  for international reserves are compiled in this form to comply with provisions in the IMF’s Special Data Dissemination Standard (SDDS) on comprehensive itemisation of foreign reserves and their liquidity.The Cent­ral Bank also util­izes the data in its op­er­a­tions.

Both assets and liabilities are converted into domestic currency at mid rates.

Foundation in law

The foundation in law for data collection is an agreement between the Central Bank of Iceland and the IMF from June 21, 1996 on a Special Data Dissemination Standard, as authorised under Article 31 of the Act of the Central Bank of Iceland, No. 92/2019 (in Icelandic).

International reserves

In­form­a­tion on international reserves is ob­tained from the Central Bank of Iceland’s accounts of its foreign currency assets and its schedules for payments in foreign currency by the Bank itself and central government. Information from the Central Bank of Iceland’s market operations on negotiated foreign credit lines.

Revision of data

Data for international investment position are generally not revised after publication.

Gold and SDR 

Gold
Owned or in the custody of monetary authorities as part of foreign exchange reserves. To qualify as reserve assets, gold deposits must be readily available on demand.

Special drawing rights
Rights allocated by the International Monetary Fund to strengthen the foreign exchange reserves of its member states. Special Drawing Rights (SDRs) are allocated in proportion to the countries’ respective quotas in the fund. Each member state’s quota is assigned on the basis of its relative share size in the world economy. The drawing rights represent a full and unconditional right of their holders to a foreign currency loan or other foreign currency assets from the International Monetary Fund. Member states can sell their quota to each other. A liability called the counterpart to the International Monetary Fund is recorded against the capitalised quota.

Currency and deposits 

Currency and deposits consist of banknotes and coins in circulation, plus deposits. Deposits
Currency and deposits consist of banknotes and coins in circulation, plus deposits. Deposits are standardised, non-negotiable agreements offered by deposit-taking corporations. The term of deposits can vary, depending on the agreement. Deposits generally imply that the debtor is obliged to return the principal to the investor. They can be held in central banks or in deposit-taking corporations.

Reserve assets

Reserve assets are foreign assets that are always available to monetary authorities and under their control. Reserve assets must be foreign-denominated assets, claims against nonresidents, and assets that actually exist. Potential assets are excluded.

Resident / Non-resident

A resident is any individual and legal entity permanently residing in Iceland, irrespective of nationality. Students and embassy employees are exempt from the residency requirement. Therefore, Icelandic students and their families who reside abroad are considered residents, and foreign embassy employees are considered non-residents. Non-residents shall mean all parties except residents.

Predetermined short-term net drains

Contractual foreign currency obligations scheduled to come due during the 12 months ahead. Payments of short-term foreign obligations are classified into three sub-periods on the basis of remaining maturity. Included are foreign currency-denominated obligations of the Central Bank and other central government (excluding social security) to residents or non-residents. Short-term obligations include those with an original maturity of one year or less and those with longer original maturities whose remaining maturity is one year or less. Also included are payments falling due during the next twelve months on obligations with an original maturity of more than one year.

Contingent short-term net drains (nominal value) over next 12 months

Possible payments due to contractual obligations that may affect foreign currency assets. These are foreign currency-denominated obligations of the Central Bank and the central government (excluding social security) to residents and non-residents that are contingent upon exogenous events and are by definition off-balance-sheet activities. There are two types of contingent flows: either they emanate from potential assets and liabilities such as undrawn, unconditional credit lines and foreign exchange guarantees. Otherwise they arise from the authorities’ positions in options contracts, if and when the options are exercised.

Undrawn, unconditional credit lines

Credit lines that are negotiated with foreign banks but have not been utilised. If credit lines need to be utilised, little or no notice is required to draw on them. On the one hand, there are credit lines obtained from other banks and, on the other hand, credit lines that other banks have obtained from the Central Bank.

Currencies in SDR

SDR is a basket of international currencies defined by the IMF. The basket currently includes five currencies. the US dollar (USD), pound sterling (GBP), euro (EUR), Yuan (CNY) and yen (JPY). The composition of the basket is reviewed every five years by the IMF. The US dollar value of the SDR is calculated by the IMF on the basis of the exchange rates of the currencies in the basket as quoted at noon each day in the London market. Markets and market operations of the Central Bank of Iceland fixes the exchange rate of the SDR against the Icelandic króna.

Upcoming events

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international reserves
Frequency: Monthly - Mars 2025
international reserves
Frequency: Monthly - Apríl 2025
Statistics
TitleFrequencyNewestPeriodNextCategoryGagnabanki
Pension fundsMonthlyApril 4February 2025May 7Balance sheets of the credit system
Portfolio investmentMonthlyMarch 31February 2025April 29Monetary and financial statistics
Market securitiesMonthlyMarch 31February 2025April 30Markets
Mutual funds, investment funds and institutional investment fundsMonthlyMarch 27February 2025April 28Balance sheets of the credit system
Other financial corporationsMonthlyMarch 27February 2025April 29Balance sheets of the credit system
Government credit fundsMonthlyMarch 27February 2025April 29Balance sheets of the credit system
Monetary statisticsMonthlyMarch 25February 2025April 25Balance sheets of the credit system
Securities offeringsMonthlyMarch 21Febrary 2025April 25Markets
Direct investmentAnnualMarch 202023 updateSeptember 19Monetary and financial statistics
Payment intermediationMonthlyMarch 17February 2025April 16Markets
Insurance companiesMonthlyMarch 17January 2025April 23Balance sheets of the credit system
International reservesMonthlyMarch 14February 2025April 15Monetary and financial statistics
Balance sheet of the Central BankMonthlyMarch 7February 2025April 7Balance sheets of the credit system
Interbank Market for Foreign ExchangeMonthlyMarch 7February 2025April 8Markets
Interbank Market for Icelandic KronurMonthlyMarch 7February 2025April 8Markets
Real exchange rateMonthlyMarch 7February 2025April 8Markets
Balance of paymentsQuarterlyMarch 6Q4 2024June 5Monetary and financial statistics
External debtQuarterlyMarch 6Q4 2024June 5Monetary and financial statistics
International investment positionQuarterlyMarch 6Q4 2024June 5Monetary and financial statistics
Financial accounts of financial corporationsQuarterlyMarch 6Q4/2024June 6Balance sheets of the credit system