HFF - Bonds

At the end of June, 2004 the Housing Financing Fund commenced issuance of HFF bonds in exchange of previously issued Housing Bonds and Housing Authority Bonds. The HFF has further strengthened the three series initially issued and in November 2004 , a fourth series, HFF14 was added (matured on Sept.14 2014).  The HFF have a name convention where the first three letters indicate that it is issued by the Housing Financing Fund.  The six digits then identify the day, month and year of maturiy, in that order.
Type Symbol Maturity
HFF-bond HFF 150224 Maturing February 15th - year 2024
HFF-bond HFF 150434 Maturing April 15th - year 2034
HFF-bond HFF 150644 Maturing June 15th - year 2044
HFF Bonds are re-issued and sold by the Housing Fund to raise funds for mortgage loans and other loan categories. HFF Bonds are annuities; inflation-linked using the Consumer Price Index; and carry a fixed interest of 3.75%, payable semi-annually. For details on each instrument select the Market Overview page. There you can see price and yield as it is on Nasdaq Iceland, exchange (15 minute delay) and attributes of the series.

HFF Bonds are Government guaranteed.  The HFF Bonds do not contain call provision as the Housing Bonds did. The HFF is rated by Standard and Poor's.
 
To go to the Housing Financing Fund's website, click here.

FAQ

Where can I buy Icelandic Government securities and HFF bonds?
This website was created to provide information to parties interested in the Icelandic financial market, but not for the purpose of selling securities. We however provide a list of Dealers in Iceland that do offer securities to international investors. Investors have a choice of signing a custody agreement with any of our Primary Dealers, or of internetional settlement through agents like Clearstream or Euroclear.
Do I need to pay withholding tax on capital income from Icelandic securities?
Interest paid to non-residents is subject to withholding tax. However, non-residents can apply to the local tax commissioner for tax exemption/reduction if covered by treaty. To apply for a withholding tax exemption/redustion is a simple process and can be done through an agent.

What is the ISIN# of a particular bond?

Left-Click once with the mouse on the name of the security you need more information about on the banner on the right. That action will call forth detailed information about that instrument. 

What is the maturity of bond X?
Final maturity, date of interest and principal payments etc. are called forth with a left-click of the mouse on the name of a security on the banner to the right.
Is there a minimum amount, when I buy Icelandic bonds and open a custody account?
Each dealer sets his own rules for their service. Some have minimum amounts and others none. Fees for custody accounts are also different depending on deposit amount. For detailed information contact individual dealers

Where are Icelandic bonds traded?

Icelandic bonds are traded on NASDAQ Iceland Exchange. (Members of NASDAQ submit their bid and ask offers on the Exchange between 09:30 and 15:30 GMT each business day. Yield and price information are shown on our Market Overview page (15 min. delay).

What is the settlement rule in the NASDAQ Iceland Exchange for bonds?

Settlement takes place two business days after trading or T+2.

Can I buy bonds myself at NASDAQ Iceland Exchange?

No, you need to go through a member of NASDAQ Iceland, preferably one of the Primary Dealers in Government Securities or HFF bonds

When is the currency market in Iceland open?
The currency market in Iceland is open from 9:15 to 16:00 GMT on business days.
What is the settlement standard in the Icelandic currency market?
In Iceland the standard is two days, T+2, for currency transactions.

Can I find information on Icelandic bonds on my Bloomberg terminal?

Yes, the Government Debt Management (GDM) and the Housing Financing Fund provide information on their Bloomberg pages ICDO and HFFI. Some Primary Dealers also have their own pages ISLA, ARIO, KVIK and LAIS. You can also find overview on the Icelandic TSY and Money Market on the page BTMM IC. For news type NI ICE GO.