Purchases of corporate bonds during the coronavirus pandemic

The purpose of the purchases was to keep general interest rates low and contribute to the functioning of the credit supply in the corporate bond market. During 2022, the purchases were aimed at compensating for the maturing corporate bonds in the Riksbank's portfolio. The Riksbank ended the purchases of corporate bonds in December 2022.

The Riksbank purchased corporate bonds issued in Swedish kronor by Swedish non-financial corporations with a credit rating equivalent to Baa3/BBB- or higher and with a remaining maturity of up to five years. From 1 January 2021, the Riksbank only purchased bonds issued by companies deemed to meet international sustainability standards and norms. In September 2022, the Riksbank introduced an additional requirement whereby the Riksbank only purchased bonds from companies that reported both their direct and indirect greenhouse gas emissions.

The Riksbank endeavoured to purchase commercial paper with a wide range of issuers and maturities to ensure that purchases were carried out in an impartial manner and with a broad impact on interest rates. The Riksbank's purchases were limited to a maximum of 50 per cent of an individual issuer's total outstanding volume of corporate bonds, or an individual bond issue at the respective point in time, in Swedish kronor.

More detailed information on the corporate bond purchases can be found in the document under “Related content” below.

Purchases of corporate bonds

The Riksbank's total purchases of corporate bonds are presented below. From September 2020 to 31 December 2022, the Riksbank purchased corporate bonds for a nominal amount of SEK 15.5 billion. 

The Riksbank’s total holdings of securities