Friday, May 27, 2016

Consumer price index in May 2016

The Consumer Price Index (CPI) based on prices in May 2016 is 435.5 points (May 1988=100), 0.42% higher than in April 2016. The CPI less housing cost is 397.8 points, 0.33% higher than in April.
Cost of owner occupied housing (imputed rent) rose by 0.8% (effect on index 0.12%).
The CPI is 1.7% higher in May 2016 than in May 2015 while the CPI less housing cost is 0.3% higher than one year ago.
The CPI compiled in the middle of May 2016, 435.5 points, is applicable for indexation purposes in July 2016. The old credit terms index for July 2016 is 8,599 points.

Thursday, May 26, 2016

Result of sale of bonds without state guarantee owned by Treasury

Sale of bonds without state guarantee that Treasury has received in connection with the composition agreements of the failed banks’ estates, was held at Government Debt Management on Wednesday 25 May 2016. The following series were offered:

Results (pdf)

Tuesday, May 24, 2016

Results of additional issuance of RIKB 20 0205

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 20 May, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase for 40,000,000 kr. in RIKB 20 0205. Total outstanding nominal value of RIKB 20 0205 after the auction is now 49,156,000,000 kr. Settlement date is 25 May 2016.

Monday, May 23, 2016

The Central Bank repurchases Treasury securities

In connection with Parliamentary handling of the Act on the Treatment of Króna-Denominated Assets Subject to Special Restrictions which entered into force Yesterday, the Central Bank wishes to emphasise the following. The Bank is currently preparing a foreign currency auction for owners of offshore krónur, and the terms and conditions for the auction, as well as its date, will be publicised very soon. Those owners of offshore krónur that own Treasury securities and securities bearing a State guarantee will be able to deliver them to the Central Bank as payment for foreign currency in the auction without previously selling the securities in the market. The repurchase prices of the securities will be published during the prelude to the auction and will be determined in accordance with their market price. 

Friday, May 20, 2016

Sale of bonds without State Guarantee owned by the Treasury

In connection with the composition agreements of the failed banks’ estates, the Treasury has received the following bonds as part of their stability contributions.

Series Nominal value (ISK)  
ARION 10 02 464,251,401  
ARION CB 2 483,548,392  
HVS 05 1 1,205,000,000 (241 nominal value units)
LSS 05 2 200,000,000  

Read more (pdf)

Friday, May 20, 2016

Sale of HFF- and T-bonds owned by the Treasury

In connection with the composition agreements of the failed banks’ estates, the Treasury has received the following bonds as part of their stability contributions.

 Series Nominal value (ISK)
RIKB 16 1013 4,286,000,000
RIKB 19 0226 1,380,102,621
HFF 34 0415 20,000,000

Read more(pdf)

Wednesday, May 18, 2016

Auction of nominal bonds RIKB 20 0205

On Friday, 20 May at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds.
In this auction nominal bonds RIKB 20 0205 will be offered. The total amount of accepted bids will be announced after the auction.

Press release (pdf)
Auction terms (pdf)   

Tuesday, May 17, 2016

Results of additional issuance of RIKB 17 0206

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 13 May, at the price of accepted bids. This time Primary Dealers did not exercise their right to purchase in RIKB 17 0206. Total outstanding nominal value of RIKB 17 0206 after the auction is now 36,010,000,000 kr. Settlement date is 18 May 2016.

Wednesday, May 11, 2016

Auction of nominal bonds RIKB 17 0206

On Friday, 13 May at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds.
In this auction nominal bonds RIKB 17 0206 will be offered. The total amount of accepted bids will be announced after the auction.
Press release (pdf)
Auction terms (pdf)   

Wednesday, May 11, 2016

MPC decision on interest rates - unchanged

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 5.75%.

Tuesday, May 10, 2016

Auction of Treasury bills RIKV 16 1115

On Thursday, 12 May at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 16 1115 which mature on 15 November 2016.

Press release (pdf)
Auction terms (pdf)

Monday, May 09, 2016

Market Information in May 2016

 By GDM
Tuesday, April 19, 2016

Results of additional issuance of RIKB 20 0205

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 15 April, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase for 10,000,000 kr. in RIKB 20 0205. Total outstanding nominal value of RIKB 20 0205 after the auction is now 48,566,000,000 kr. Settlement date is 20 April 2016.

Wednesday, April 13, 2016

Auction result of T-bills RIKV 16 1017

Tuesday, April 12, 2016

Results of additional issuance of RIKB 17 0206

As stated in paragraph 5 of Terms of Invitation to Tender for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 8 April, at the price of accepted bids. This time Primary Dealers did not exercise their right to purchase in RIKB 17 0206. Total outstanding nominal value of RIKB 17 0206 after the auction is now 32,680,000,000 kr. Settlement date is 13 April 2016.

Monday, April 11, 2016

Market Information in April 2016

 By GDM
Monday, April 11, 2016

Auction of Treasury bills RIKV 16 1017

On Wednesday, 13 April at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 16 1017 which mature on 17 October 2016.

Press release (pdf)
Auction terms (pdf)       

Wednesday, April 06, 2016

Auction of nominal bonds RIKB 17 0206

On Friday, 8 April at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds.
In this auction nominal bonds RIKB 17 0206 will be offered. The total amount of accepted bids will be announced after the auction.
Press release (pdf)
Auction terms (pdf)      

Thursday, March 31, 2016

Quarterly Government Debt Management Prospect

Second quarter 2016

  • In Q2, benchmark Treasury bonds will be offered for sale in the amount of 10-20 b.kr. market value.1
  • It is planned to issue Treasury bonds in the following series: RIKB 17 0206, RIKB 20 0205, and RIKB 31 0124.
  • Treasury bill issuance will be reduced. 

Full report 

Wednesday, March 30, 2016

Consumer price index in March 2016

The Consumer Price Index (CPI) based on prices in March 2016 is 432.8 points (May 1988=100), 0.37% higher than in February 2016. The CPI less housing cost is 396.1 points, 0.46% higher than in February.

The CPI is 1.5% higher in March 2016 than in March 2015 while the CPI less housing cost is 0.2% higher than one year ago.

The CPI compiled in the middle of March 2016, 432.8 points, is applicable for indexation purposes in May 2016. The old credit terms index for May 2016 is 8,546 points.
Read more  

Wednesday, March 16, 2016

Auction of Treasury bonds cancelled

The Government Debt Management has decided to cancel the auction of Treasury bonds planned for 18 March 2016.

Wednesday, March 16, 2016

MPC decision on interest rates - unchanged

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to keep the Bank’s interest rates unchanged. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore remain 5.75%. 

Read more 

Friday, March 11, 2016

Signing of Agreements with Primary Dealers

Today the Government Debt Management on behalf of the Treasury and primary dealers signed agreements regarding Issuance and Market Making in Treasury securities. The objective of the agreements is to maintain the Treasury’s access to financing and to enhance price formation in the secondary market for Treasury securities. 

As of 1 April 2015, four financial undertakings have been appointed as “primary dealers in Treasury securities”. They are: Arion Banki hf., Islandsbanki hf., Kvika banki hf. and Landsbankinn hf.
Press release (pdf) 
Sample of agreement (pdf)   

December 09, 2015
MPC decision on interest rates
November 04, 2015
MPC decision on interest rates
September 30, 2015
MPC decision on interest rates
February 04, 2015
MPC decision on interest rates
December 10, 2014
MPC decision on interest rates
November 05, 2014
MPC decision on interest rates
August 28, 2014
Temporary exemption revoked
December 11, 2013
MPC decision on interest rates
November 06, 2013
MPC decision on interest rates
February 06, 2013
MPC decision on interest rates
December 13, 2012
Sale of Government bonds
December 12, 2012
MPC decision on interest rates
September 07, 2012
AUCTION RESULT OF NOMINAL BONDS
April 29, 2011
Signing of Agreements
December 29, 2010
Annual prospect 2011
May 14, 2010
Signing of Agreements
February 23, 2010
Exchange auction results
February 11, 2010
Auction result RIKV 10 0615
January 13, 2010
Auction Result RIKV 10 0517
December 10, 2009
Result - Sale of T-Notes
June 29, 2009
Weekly Economic Briefing
June 22, 2009
Weekly Economic Briefing
June 15, 2009
Weekly Economic Briefing
February 20, 2009
Auction results Treasury Notes
February 11, 2009
Auction announcement - Bills
January 29, 2009
Weekly Web Release
October 13, 2008
Glitnir Weekly
November 06, 2008
Weekly Web Release
November 14, 2008
Weekly Web Release
November 21, 2008
Weekly Web Release
December 03, 2008
Treasury Notes Auction Results
December 08, 2008
Auction announcement
December 10, 2008
Treasury Notes Auction Results
December 16, 2008
Auction announcement - Bills
December 19, 2008
Treasury Bills Auction Results
January 21, 2009
Auction announcement - Bills
September 23, 2008
Glitnir Weekly
September 25, 2008
Treasury Notes Auction Results
September 30, 2008
Glitnir Weekly
September 29, 2008
The Week in Review
October 06, 2008
The Week in Review
October 06, 2008
Glitnir Weekly
September 09, 2008
Glitnir Weekly
September 15, 2008
The Week in Review
September 16, 2008
Glitnir Weekly
September 08, 2008
The Week in Review
September 01, 2008
Glitnir Weekly
August 25, 2008
Glitnir Weekly
September 01, 2008
The Week in Review
August 25, 2008
The Week in Review
August 11, 2008
Glitnir Weekly
August 11, 2008
The Week in Review
August 18, 2008
The Week in Review
August 18, 2008
Glitnir Weekly
July 07, 2008
Glitnir Weekly
July 03, 2008
Macroeconomic Research
July 07, 2008
The Week in Review
July 14, 2008
The Week in Review
July 14, 2008
Glitnir Weekly
July 21, 2008
The Week in Review
July 22, 2008
Glitnir Weekly
July 22, 2008
Exchange rate forecast
July 25, 2008
The Week in Review
July 29, 2008
Glitnir Weekly
August 01, 2008
Bond Market - Iceland
August 05, 2008
The Week in Review
August 05, 2008
Glitnir Weekly
June 30, 2008
Glitnir Weekly
June 30, 2008
The Week in Review
June 23, 2008
The Week in Review
June 16, 2008
Glitnir Weekly
June 16, 2008
The Week in Review
May 13, 2008
The Week in Review
May 13, 2008
Glitnir Weekly
May 19, 2008
Glitnir Weekly
May 26, 2008
The Week in Review
May 27, 2008
Glitnir Weekly
June 02, 2008
The Week in Review
June 02, 2008
Glitnir Weekly
June 09, 2008
The Week in Review
June 09, 2008
Glitnir Weekly
April 22, 2008
Glitnir Weekly
April 14, 2008
The Week in Review
April 14, 2008
Glitnir Weekly-
April 21, 2008
The Week in Review
April 28, 2008
The Week in Review
April 29, 2008
Glitnir Weekly
May 05, 2008
The Week in Review
May 05, 2008
Glitnir Weekly

Yield Curve

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Non-IndexedPriceYield
RIKV 16 0615 99.558.56%
RIKV 16 0715 99.106.67%
RIKV 16 0815 98.636.25%
RIKV 16 0915 98.116.25%
RIKB 16 101399.966.00%
RIKV 16 1017 97.606.19%
RIKV 16 1115 0.000.00%
RIKB 17 0206 99.306.00%
RIKB 19 0226107.155.84%
RIKB 20 0205101.105.90%
RIKB 22 1026107.055.89%
RIKB 25 0612114.505.88%
RIKB 31 0124106.405.83%
IndexedPriceYield
RIKS 21 0414104.602.78%
HFF150224103.502.86%
HFF150434108.002.83%
HFF150644112.502.78%

CPI Change

Current Value433.70
12 Months Change*1.57%
3 Months Change*5.14%
Last Month Change0.21%
Daily CPI433.70

* Annualized rates