Wednesday, February 10, 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 

Tuesday, February 09, 2016

Market Information in February 2016

 By GDM
Tuesday, February 09, 2016

Auction of Treasury bills RIKV 16 0517 & RIKV 16 0815

On Thursday, 11 February at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 16 0517 and RIKV 16 0815 which mature on 17 May and 15 August 2016.
Press release (pdf)
Auction terms (pdf)         

Wednesday, February 03, 2016

Auction of nominal bonds RIKB 20 0205

On Friday, 5 February 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, January 28, 2016

Consumer price index in January 2016

The Consumer Price Index (CPI) based on prices in January 2016 is 428.3 points (May 1988=100), 0.58% lower than in December 2015. The CPI less housing cost is 391.6 points, 1.06% lower than in December.

Winter sales led to a 13.0% decrease in prices of clothing and footwear (effect on index -0.57%), prices of furnishing, household equipment etc. decreased by 9.3% (-0.14%). Prices of petrol and diesel oil decreased by 3.3% (-0.11%).
Cost of housing, water, electricity and heating rose by 0.8% (0.22%). This is mainly due to rising cost of owner occupied housing (imputed rent) by 0.8% (0.13%).

The CPI is 2.1% higher in January 2016 than in January 2015 while the CPI less housing cost is 0.6% higher than one year ago.

Read more 

Tuesday, January 26, 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 22 January, 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 25,803,000,000 kr. Settlement date is 27 January 2016.

Wednesday, January 20, 2016

Auction of nominal bonds RIKB 17 0206

On Friday, 22 January 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)        

Tuesday, January 19, 2016

Results of additional issuance of RIKB 20 0205 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 15 January, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase in RIKB 20 0205 for 105,000,000 kr. but did not exercise their right to purchase in RIKB 31 0124. Total outstanding nominal value of RIKB 20 0205 after the auction is now 42,886,000,000 kr. and 89,408,400,000 in RIKB 31 0124. Settlement date is 20 January 2016.

Monday, January 18, 2016

Fitch Affirms Iceland at BBB+; Outlook Stable

Fitch Ratings has affirmed Iceland‘s Long-term foreign and local currency IDRs at BBB+ and A- respectively with a Stable Outlook. The issue ratings on Iceland‘s senior unsecured Foreign- and Local-Currency bonds are also affirmed at BBB+ and A- respectively. The Country Ceiling is affirmed at BBB+ and the Short-Term Foreign-Currency IDR at F2.

FitchRatings report (pdf)

Monday, January 18, 2016

Standard and Poor´s raised rating to BBB+

On January 15, 2016, Standard & Poor’s Ratings Service raised its long-term sovereign credit ratings on Iceland to BBB+. At the same time, they affirmed the short-term ratings at A-2. Standard & Poor’s also raised the Transfer & Convertibility Assessment to BBB+ from BBB. The outlook on the long-term ratings is stable.

S&P report(pdf)

Wednesday, January 13, 2016

Auction of nominal bonds RIKB 20 0205 & RIKB 31 0124

On Friday, 15 January at 11:00 am, Government Debt Management will conduct an auction of Treasury bonds.
In this auction nominal bonds RIKB 20 0205 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)       

Monday, January 11, 2016

Market Information in January 2016

 By GDM
Monday, January 11, 2016

Auction of Treasury bills RIKV 16 0415 & RIKV 16 0715

On Wednesday, 13 January at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 16 0415 and RIKV 16 0715 which mature on 15 April and 15 July 2016.

Press release (pdf)
Auction terms (pdf)      

Wednesday, December 30, 2015

Quarterly Government Debt Management Prospect

First quarter 2016

  • In Q1, benchmark Treasury bonds will be offered for sale in the amount of 10-20 b.kr. market value.
  • It is planned to issue Treasury bonds in the following series: RIKB 17 0206, RIKB 20 0205, and RIKB 31 0124.


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

Full report

Wednesday, December 30, 2015

Government Debt Management Prospect 2016

  • Planned Treasury bond issuance for 2016 totals 50 b.kr. market value.
  • Net issuance of benchmark Treasury bonds will be negative by an estimated 20 b.kr. during the year.
  • The balance of outstanding Treasury bills is estimated to decline by 9 b.kr., and be 20 b.kr. at the end of 2016.
  • The Central Bank of Iceland bond will be paid off before mid-year.
  • The aim is to refinance foreign debt in the amount of USD 503 million if market conditions are favourable. 

Full report

Tuesday, December 22, 2015

Consumer price index in December 2015

The Consumer Price Index (CPI) based on prices in December 2015 is 430.8 points (May 1988=100), 0.33% higher than in November 2015. The CPI less housing cost is 395.8 points, 0.28% higher than in November.
The CPI is 2.0% higher in December 2015 than in December 2014 while the CPI less housing cost is 0.4% higher than one year ago.
The CPI compiled in the middle of December 2015, 430.8 points, is applicable for indexation purposes in February 2016. The old credit terms index for February 2016 is 8,506 points.
Read more 

Friday, December 11, 2015

Auction of Treasury bonds cancelled

The Government Debt Management has decided to cancel the auction of Treasury bonds planned for 15 December 2015.

Wednesday, December 09, 2015

Market Information in December 2015

 By GDM
Wednesday, December 09, 2015

Auction of Treasury bills RIKV 16 0315 & RIKV 16 0615

On Friday, 11 December at 11:00 a.m. Government Debt Management will conduct an auction of Treasury bills RIKV 16 0315 and RIKV 16 0615 which mature on 15 March and 15 June 2016.
Press release (pdf)
Auction terms (pdf)      

Wednesday, December 09, 2015

MPC decision on interest rates

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%. The Committee has also decided to lower reserve requirements by 1.5 percentage points.

Read more 

Tuesday, December 08, 2015

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 4 December, at the price of accepted bids. This time Primary Dealers did exercise their right to purchase in RIKB 20 0205 for 10,000,000 kr. Total outstanding nominal value of RIKB 20 0205 after the auction is now 39,281,000,000 kr. Settlement date is 9 December 2015.

Wednesday, December 02, 2015

Auction of nominal bonds RIKB 20 0205

On Friday, 4 December 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, November 26, 2015

Consumer price index in November 2015

The Consumer Price Index (CPI) based on prices in November 2015 is 429.4 points (May 1988=100), 0.35% lower than in October 2015. The CPI less housing cost is 394.7 points, 0.58% lower than in October.
The CPI is 2.0% higher in November 2015 than in November 2014 while the CPI less housing cost is 0.3% higher than one year ago.
The CPI compiled in the middle of November 2015, 429.4 points, is applicable for indexation purposes in January 2016. The old credit terms index for January 2016 is 8,479 points.
Read more 

 

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
April 07, 2008
The Week in Review
April 08, 2008
Glitnir Weekly
March 31, 2008
Glitnir Weekly
March 25, 2008
Glitnir Weekly
March 18, 2008
Glitnir Weekly
March 31, 2008
The Week in Review
March 17, 2008
The Week in Review
March 11, 2008
Glitnir Weekly
March 10, 2008
ISK bonds: on HOLD
March 10, 2008
The Week in Review
February 25, 2008
Glitnir Weekly
February 21, 2008
Treasury Notes Auction Results
February 25, 2008
The Week in Review
March 03, 2008
The Week in Review
March 03, 2008
Glitnir Weekly
February 28, 2008
Benchmark bond yields
February 18, 2008
Glitnir Weekly
February 11, 2008
Glitnir Weekly
February 18, 2008
The Week in Review
November 19, 2007
Glitnir Weekly
December 03, 2007
Glitnir Weekly
December 10, 2007
The Week in Review
November 26, 2007
The Week in Review
November 19, 2007
The Week in Review
November 27, 2007
Glitnir Weekly
November 29, 2007
Treasury Bills Auction Results
December 03, 2007
The Week in Review

Yield Curve

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Non-IndexedPriceYield
RIKV 16 021599.954.50%
RIKV 16 0315 99.475.81%
RIKV 16 0415 98.965.91%
RIKV 16 0517 98.445.96%
RIKV 16 0615 97.926.13%
RIKV 16 0715 97.426.16%
RIKB 16 1013100.065.85%
RIKB 17 0206 99.085.99%
RIKB 19 0226107.386.02%
RIKB 20 0205100.955.97%
RIKB 22 1026106.656.01%
RIKB 25 0612114.005.99%
RIKB 31 0124104.706.01%
IndexedPriceYield
RIKS 21 0414104.402.87%
HFF150224102.853.04%
HFF150434107.402.90%
HFF150644111.852.84%

CPI Change

Current Value428.30
12 Months Change*2.15%
3 Months Change*-2.39%
Last Month Change-0.58%
Daily CPI428.30

* Annualized rates