HM Treasury has issued a notice to provide guidance in relation to the Landsbanki Freezing order between Iceland and UK, which should smoothen the financial transactions between these two countries.

This order applies only to Landsbanki and does not freeze the funds of any other Icelandic banks.

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PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND

The Central Bank of Iceland has come to an agreement with market makers in the foreign exchange market, as well as with several other financial undertakings, concerning temporary foreign exchange arrangements designed to facilitate international trade.

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The Central Bank of Iceland said it drew 400 million euro (543 million dollars) in accordance with a mid-May agreement it made with the central banks of Sweden, Norway and Denmark, the Earth Times reported.

Each swap facility arrangement provides the Icelandic central bank access to 500 million euro against the Icelandic currency.

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The Swedish government took another significant step forward in its privatisation programme by selling its property group, according to reports in the Wall Street Journal. It brings to a total of SEK 116 billion the amount that has been raised from such sales to help reduce state debt and implement welfare programmes.

In all they intend to raise SEK 200 billion (USD 33.4 billion), and the SEK 41.1 billion raised from pension fund buyer AP Fastigheter takes them over the half way mark.

The government of Fredrik Reinfeldt intends to put six state-owned companies up for sale, as promised before the election, to divest the government’s role in the private sector. So far it has sold V&S, maker of Absolut vodka, part of TeliaSonera, and a small portion of OMX, the stock market operator.

A further 37.3 percent stake in TeliaSonera telecommunication is expected to go on sale soon, and the government hopes to hold out for a better price, having achieved half their income targets from other sales.

Other shares it hopes to get rid of include a 19.9 percent stake in Nordea – the Nordic region’s largest bank, and 100 percent of SBAB, a Swedish mortgage lender.