Friday, August 26, 2016

Consumer Price Index in August 2016

The Consumer Price Index (CPI) based on prices in August 2016 is 436.4 points (May 1988=100), 0.34% higher than in July 2016. The CPI less housing cost is 396.5 points, 0.13% higher than in July.
The CPI is 0.9% higher in August 2016 than in August 2015 while the CPI less housing cost has decreased 0.9% from one year ago.
The CPI compiled in the middle of August 2016, 436.4 points, is applicable for indexation purposes in October 2016. The old credit terms index for October 2016 is 8,617 points.
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Wednesday, August 24, 2016

MPC decision on interest rates

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to lower the Bank’s interest rates by 0.5 percentage points. The Bank’s key interest rate – the rate on seven-day term deposits – will therefore be 5.25%.

Read more 

Tuesday, August 23, 2016

Results of additional issuance of RIKB 22 1026 and RIKB 31 0124

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 19 August, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase 340,000,000 kr. in RIKB 22 1026 and 252.000.000 kr. nominal value in RIKB 31 0124. Total outstanding nominal value of RIKB 22 1026 after the auction is now 63,553,000,000 kr. and 92.480.400.000 kr. in RIKB 31 0124. Settlement date is 24 August 2016.

Wednesday, August 17, 2016

Auction of nominal bonds RIKB 22 1026 and RIKB 31 0124

On Friday, 19 August at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds.

In this auction nominal bonds RIKB 22 1026 and RIKB 31 0124 will be offered. The total amount of accepted bids will be announced after the auction.

Press release (pdf)

Auction terms (pdf)

 

Thursday, August 11, 2016

Fitch Ratings’ Full Rating Report on Iceland

Fitch Ratings has released its Full Rating Report on Iceland. The report follows Fitch Ratings’ affirmation of Iceland’s sovereign ratings on 15 July this year.
Fitch Ratings affirms Iceland’s sovereign rating at BBB+ with a stable outlook.

Fitch Ratings’ report (pdf)
Press release from 15 July 2016

Thursday, August 11, 2016

Auction result of T-bills RIKV 17 0215

Tuesday, August 09, 2016

Market Information in August 2016

 By GDM
Tuesday, August 09, 2016

Auction of Treasury bills RIKV 17 0215

On Thursday, 11 August at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 17 0215 which mature on 15 February 2017.

Press release (pdf)
Auction terms (pdf)  

Saturday, July 23, 2016

Fitch Ratings: change in methodology

This week international rating agency Fitch Ratings held a global portfolio rating committee related to an overhaul of the Agency’s sovereign methodology released on May 26th, 2016. The results of the committee were published today. As part of the methodology adjustment Fitch changed its approach to the assessment of the long-term local currency (LTLC) ratings, bringing these ratings in line with the long-term foreign currency (LTFC) ratings for most sovereigns globally.  In addition, Fitch has assigned new issuer default ratings (IDR) for short-term local currency (STLC) obligations. As part of the criteria related ratings recalibration, Fitch has lowered Iceland’s LTLC rating in line with its LTFC rating of BBB+, which was affirmed by the Agency on July 15th with a stable outlook. The ratings for short-term obligations in both foreign and local currency have also been affirmed at F2 Iceland’s sovereign ratings continue to be supported by the country’s strong macroeconomic fundamentals, sustained improvements in fiscal and external indicators, and solid institutional base. 

Corresponding changes will be made to the ratings of other sovereigns whose LTLC ratings were a notch above their LTFC ratings.

The Fitch press release (pdf)

Friday, July 22, 2016

Consumer price index in July 2016

The Consumer Price Index (CPI) based on prices in July 2016 is 434.9 points (May 1988=100), 0.32% lower than in June 2016. The CPI less housing cost is 396.0 points, 0.55% lower than in June.
The CPI is 1.1% higher in July 2016 than in July 2015 while the CPI less housing cost has decreased 0.6% from one year ago.
The CPI compiled in the middle of July 2016, 434.9 points, is applicable for indexation purposes in September 2016. The old credit terms index for September 2016 is 8,587 points.
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Friday, July 15, 2016

Fitch Ratings affirms Iceland’s sovereign rating at BBB+ with a stable outlook

Fitch Ratings has affirmed Iceland’s Long-term foreign and local currency Issuer Default Ratings (IDR) at ‘BBB+’ and ‘A-’ respectively with Stable Outlooks. The issue ratings on Iceland’s senior unsecured foreign and local currency bonds have also been affirmed at ‘BBB+’ and ‘A-’. The Country Ceiling has been affirmed at ‘BBB+’ and the Short-term foreign currency IDR and CP at ‘F2’.

Fitch Rating’s rating action commentary

Friday, July 15, 2016

Standard & Poor’s affirms Iceland’s sovereign ratings at BBB+/A-2 with a stable outlook

International rating agency Standard & Poor’s has affirmed Iceland’s sovereign ratings at BBB+/A-2 with a stable outlook. Standard & Poor’s expects economic growth in Iceland to remain strong over the next few years, supported by the tourism sector and robust private consumption. The stable outlook balances the potential for a faster-than-anticipated improvement in the country’s fiscal and balance-of-payments profiles over the next two years against the remaining risks surrounding capital control liberalization and the prospect of the economy overheating. 

Standard & Poor’s research update

Wednesday, July 13, 2016

Auction result of T-bills RIKV 17 0116

Tuesday, July 12, 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 8 July, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase 70,000,000 kr. nominal in RIKB 20 0205. Total outstanding nominal value of RIKB 20 0205 after the auction is now 51,726,000,000 kr. Settlement date is 13 July 2016.

Monday, July 11, 2016

Market Information in July 2016

 By GDM
Monday, July 11, 2016

Auction of Treasury bills RIKV 17 0116

On Wednesday, 13 July at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 17 0116 which mature on 16 January 2017.
Press release (pdf)
Auction terms (pdf)    

Wednesday, July 06, 2016

Auction of nominal bonds RIKB 20 0205

On Friday, 8 July 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)    

Thursday, June 30, 2016

Quarterly Government Debt Management Prospect Q3/2016

Third quarter 2016

  • In Q3, 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 20 0205, RIKB 22 1026 and RIKB 31 0124.


1 The sale price or market value refers to the clean price, net of accrued interest. 

Full report(pdf)

Tuesday, June 28, 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 24 June, 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 36,930,000,000 kr. Settlement date is 29 June 2016.

Tuesday, June 28, 2016

Consumer price index in June 2016

The Consumer Price Index (CPI) based on prices in June 2016 is 436.3 points (May 1988=100), 0.18% higher than in May 2016. The CPI less housing cost is 398.2 points, 0.10% higher than in May.
The CPI is 1.6% higher in June 2016 than in June 2015 while the CPI less housing cost is unchanged from one year ago.
The CPI compiled in the middle of June 2016, 436.3 points, is applicable for indexation purposes in August 2016. The old credit terms index for August 2016 is 8,615 points.
Read more   

Friday, June 24, 2016

Republic of Iceland buys back its own debt

Today the Republic of Iceland bought back its own debt in the nominal series RIKH 18 1009, in the nominal amount of 30 b.kr. at a price of 100.29. Total outstanding nominal amount of the issue following the buyback is 182.911.315.408. The buyback is part of the debt and liquidity management strategy for the Republic of Iceland.

Wednesday, June 22, 2016

Auction of nominal bonds RIKB 17 0206

On Friday, 24 June 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.
PressRelease (pdf)
AuctionTerms (pdf) 

Wednesday, June 22, 2016

Results of the Central Bank of Iceland foreign currency auction of 16 June 2016

In connection with the foreign currency auction held by the Central Bank of Iceland on 16 June 2016, in accordance with the Terms of Auction for the purchase of Icelandic krónur by the Central Bank of Iceland in exchange for euros, and in accordance with the advertisement of 10 June 2016 concerning the purchase price for State-guaranteed securities in connection with the foreign currency auction, the Central Bank has decided to purchase the following Treasury bill and Treasury bond series and State-guaranteed bonds offered as financing for foreign currency purchases in the auction.

see more

Thursday, June 16, 2016

Republic of Iceland repays bonds for 62 billion ISK

Republic of Iceland today completed repayment of bonds issued in 2011 maturing today. The outstanding balance on the bonds series totalled USD 503 million, or equivalent to around ISK 62 billion. Payment for the bonds came from the Treasury's foreign currency balance with the Central Bank of Iceland.

more..

Thursday, June 09, 2016

Market Information in June 2016

 By GDM
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

Yield Curve

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Non-IndexedPriceYield
RIKV 16 0915 99.626.96%
RIKB 16 101399.966.15%
RIKV 16 1017 99.096.36%
RIKV 16 1115 98.616.26%
RIKV 17 011697.626.25%
RIKB 17 0206 99.655.73%
RIKV 17 021597.146.13%
RIKB 19 0226107.685.36%
RIKB 20 0205102.765.34%
RIKB 22 1026109.805.34%
RIKB 25 0612118.405.32%
RIKB 31 0124111.305.35%
IndexedPriceYield
RIKS 21 0414104.002.86%
HFF150224102.803.04%
HFF150434108.552.74%
HFF150644112.802.75%

CPI Change

Current Value434.90
12 Months Change*1.14%
3 Months Change*1.11%
Last Month Change-0.32%
Daily CPI434.90

* Annualized rates