Easing of collateral requirements
Norges Bank has today decided to make temporary changes in the guidelines for pledging securities as collateral for loans from Norges Bank, in order to increase banks’ access to loans from Norges Bank.
• The requirements regarding credit rating and listing on the stock exchange for bonds issued by private Norwegian enterprises have been suspended.
• Banks’ claims on mortgage companies issuing covered bonds will be eligible as collateral for loans.
• Units in Norwegian money market funds are eligible as collateral even if the funds invest in Norwegian bonds and notes that are not eligible under the current collateral guidelines. Such fund units will no longer be included in the bank quota of 35 per cent, even though according to their statutes the funds may invest in securities issued by Norwegian banks.
The changes will apply as from 3 November 2008.
New long-term F-loan
Norges Bank will offer banks a new F-loan from Norges Bank with a two-year maturity and settlement on 1 February 2009. The maximum bid for the two-year loan will be NOK 1 billion. Norges Bank will consider offering another F-loan with a two-year maturity and settlement on 1 May 2009.
Contact:
Press telephone: +47 21 49 09 30
Email: presse@norges-bank.no