Lánamál ríkisins - Company Announcement

Amendment the Central Bank of Iceland Rules no. 490/2016

Rules amending Central Bank of Iceland Rules no. 490/2016 on special reserve
requirements for new foreign currency inflows were published on the Law and
Ministerial Gazette website (www.stjornartidindi.is) today. The new Rules
contain amendments to Article 2, Items 2 and 5 and Article 6 of Rules no.
490/2016. First of all, it is now stipulated that domestic currency deposits
pursuant to Article 2, Items 2 and 5 of Rules no. 490/2016 will only be subject
to special reserve requirements if they bear an annual interest rate of 3.00%
or higher. Second, Article 6, Paragraph 4 of Rules no. 490/2016 has been
amended to make the special reserve amount available for disposal from the
special reserve account at the end of the holding period; furthermore, the
amount available for disposal according to this provision will not be subject
to special reserve requirements. 

Attached are copies of the Rules amending Rules no. 490/2016 in English
translation. The Rules can also be found on the Law and Ministerial Gazette
website: 


http://www.stjornartidindi.is/Advert.aspx?RecordID=97fc97d5-8b5f-4d20-acdf-eb54f
ce396aa 

All questions and comments in connection with the above-described amendments
may be sent by e-mail to hb24@sedlabanki.is.

Attachments:

Rules amending rules no 490 2016.pdf