Loans in US dollars
The Riksbank is offering loans in US dollars against collateral. Strengthening the supply of liquidity in US dollars in the Swedish financial system in order to, if necessary, facilitate banks’ funding in this currency is one of the Riksbank's measures to mitigate the effects of the corona pandemic on the Swedish economy.
A good supply of US dollars is important for the function of Swedish financial markets and therefore also for the monetary policy transmission mechanism. An impaired function may risk leading to exacerbated financial conditions in the economy with negative consequences for output and employment in Sweden. Disruptions in the supply of US dollars risk jeopardising fulfilment of the price stability objective. In this situation, therefore, the Riksbank needs to strengthen the supply of liquidity in US dollars in the Swedish financial system in order to, if necessary, facilitate banks’ funding in this currency.
Since 19 March 2020, The Riksbank has offered monetary policy counterparties loans up to a total of USD 60 billion against collateral. The decision to offer loans in US dollars initially applied up to and including 30 September 2020, but has been extended on two occasions and now applies up to and including 30 September 2021.
As from 1 April 2021, auctions will take place once a month in accordance with the calendar below. If the situation in the economy changes, auctions can be held more often.
Outstanding loans in US dollars
Here we present the Riksbank’s outstanding loans of US dollars. Outstanding loans means US dollars lent, minus the US dollars paid back to the Riksbank at that point in time.
|Outstanding volume 31 March 2021||0|
|New lending in April 2021||0|
|Repayments in April 2021||0|
|Outstanding volume 30 April 2021||0|
Total lending in US dollars
Here we present the Riksbank’s total lending of US dollars to monetary policy counterparties. Up until 30 September 2021, the Riksbank is offering to lend USD 60 billion.
|Date of operation||Duration (days)||Settlement date||Maturity date|
|8 April||81||12 April||2 July|
|6 May||84||10 May||2 August|
|3 June||84||7 June||30 August|
To participate in these auctions, the monetary policy counterparties must submit an application to the Riksbank by no later than 11.00 on the bank day before the auction day; read more in “Registration: Participation in auction procedure.”