PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

In the context of the Stand-By Arrangement, the following documents have been released and are included in this package: Read the full story

The Central Bank of Iceland has issued the speech of David Oddsson, the Chairman of the Board of Governors of the Central Bank.

His speech is available in a pdf file here.

PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

Today, Fitch Ratings issued a press release on the IMF Executive Board Approval on US$2.1 Billion Stand-By Arrangement for Iceland. The Sovereign ratings remain unchanged. Read the full story

PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

The Executive Board of the International Monetary Fund (IMF) today approved a two-year SDR 1.4 billion (about US$2.1 billion) Stand-By Arrangement for Iceland to support the country’s program to restore confidence and stabilize the economy. Read the full story

PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

In view of the current circumstances, the Central Bank of Iceland wishes to explain how cross-border payments take place in instances where the Central Bank of Iceland acts as an intermediary. Read the full story

PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

As is well known, transfers of funds between Iceland and other countries often take longer than they did previous to the banks’ collapse in October. The situation has improved significantly in recent weeks; however, it is important that all necessary information accompany payment instructions so as to prevent delays in payment intermediation. Read the full story

PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

The Board of Governors of the Central Bank of Iceland has decided to hold the Bank’s policy interest rate unchanged at 18%. Read the full story

PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

Payment intermediation to and from the United Kingdom is proceeding much more smoothly than before. However, it is important to bear in mind that payments generally take a longer time to reach their destination than they did before problems developed roughly a month ago. Read the full story

“There is neither trust nor confidence in the abilities of the chairman of the Central Bank of Iceland or its Board any longer, and so the current incumbents should give way and allow others to rebuild that trust and confidence,” wrote Ragnheidur Rikhardsdottir, Independence Party MP Read the full story

PRESS RELEASE FROM THE CENTRAL BANK OF ICELAND:

The importance of smoothly functioning cross-border payment intermediation through Iceland’s commercial banks is apparent to all. Because of the difficulties with cross-border payments in the past few weeks, the Central Bank has decided to act as an intermediary in instances where other channels were closed. Read the full story