Market operations

Once a week, normally on Tuesdays, the Riksbank issues Riksbank Certificates at an interest rate that is the same as the repo rate. By issuing Riksbank Certificates, the Riksbank withdraws liquidity from the banking system, which currently has a surplus.

 

In addition, the Riksbank is prepared to carry out daily fine-tuning transactions with the banks if there is an imbalance in the banking system's liquidity in relation to the Riksbank at the end of the day. If the banking system has a surplus at the end of the day, the Riksbank draws in the remaining surplus liquidity from the banks, i.e. the banks deposit money with the Riksbank at the repo rate minus 0.1 percentage points. If, on the other hand, the banking system has a deficit at the end of the day, the Riksbank injects liquidity at the repo rate plus 0.1 percentage points.

 

If the liquidity situation in the banking system is the reverse, i.e. the banking system has a liquidity deficit in relation to the Riksbank, the Riksbank provides for this by carrying out monetary policy repo transactions once a week. A repo transaction means that the Riksbank buys securities from the banks at the repo rate, which are then sold back one week later. Exactly as described above, fine-tuning transactions are carried out at the end of the day to even out any remaining liquidity surplus or deficit.

 

For some of the monetary policy instruments normally used by the Riksbank, there are special terms and conditions in addition to those stated in Terms and Conditions for RIX and Monetary Policy Instruments.

 

There are special conditions applying to Riksbank Certificates.

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