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2008-07-18 11:25:39 CEST 2008-07-18 11:26:40 CEST REGLERAD INFORMATION Íbúðalánasjóður - Company Announcement- Establishment of a New Loan Class at the Housing Financing FundThe Minister of Social Affairs and Social Security has signed a regulation regarding a new loan class, authorizing the Housing Financing Fund (HFF) the granting of loans to financial institutions with the purpose of temporarily refinancing housing mortgages, issued by these institutions. Up to ISK 30 billion will be issued in this class in the form of HFF bonds and will exclusively be used as collateral in transactions with the Central Bank of Iceland. The Minister of Social Affairs will also propose a bill to Parliament at the beginning of September 2008, suggesting HFF be given the authority to finance and purchase new housing mortgages, issued by financial institutions. Should the bill become a law, it is estimated that up to ISK 30 billion will be issued for this purpose. These law amendments scheduled to take place in September would be independent of the comprehensive revision on housing affairs, also on the agenda at the upcoming Congress, starting in October. The full news release is attached. |
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