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. In these fine-tuning transactions, the Riksbank draws in the remaining surplus liquidity from the banks, that is the banks deposit money with the Riksbank, currently at the repo rate plus/minus 0.1 percentage points.

 

If the liquidity situation in the banking system is the reverse, that is, that the banking system has a liquidity deficit in relation to the Riksbank, the Riksbank provides for this by carrying out 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.
The weekly operations, issues of Riksbank Certificates or repo transactions, are the Riksbank's main monetary policy transactions.

 

If, at the end of the day, there is still a liquidity deficit in the banking system, the Riksbank also carries out fine-tuning operations, currently at the same level as the repo rate.

 

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

 

There are special conditions applying to Riksbank Certificates.

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