Monthly market operations at longer maturities in kronor

The Riksbank is offering the banks the opportunity to borrow an unlimited amount of money on a monthly basis against collateral at three or six months’ maturity at the repo rate to mitigate the effects of the corona pandemic on the Swedish economy.

The banks’ access to liquidity in Swedish krona needs to be strengthened to facilitate their funding and thereby their role as suppliers of credit to Swedish companies. As the current situation on the financial markets is very uncertain, the maturity for the credit will amount to three or six months.

Given that the situation on the financial markets has stabilised since the introduction of these market operations the frequency in the offers of the loans has changed from weekly to monthly market operations.

This offer will not have any upper limit to the amount, other than that following from the Riksbank accepting, for this credit, the same collateral as applies to the Riksbank’s credit in RIX in accordance with the Terms and conditions for RIX and monetary policy instruments.

These market operations will take place monthly, on Mondays, and continue until the Riksbank decides otherwise. Monetary policy counterparties can submit bids by telephone between 11.00 and 11.30; refer to the special terms for more information.

This is a new measure and these market operations started on 18 March 2020. As of 3 May 2021 the Riksbank offers the loans on a monthly rather than a weekly basis.

Outstanding loans in Swedish kronor

Here, we present the Riksbank’s outstanding loans in Swedish kronor with 3 and 6 months term. Outstanding loans means Swedish kronor lent, minus the Swedish kronor paid back to the Riksbank at that point in time. 

Oustanding loans in Swedish kronor

Figure: Net lending in Swedish kronor

The diagram shows the Riksbank’s outstanding loans in Swedish krona with 3 and 6 months term within the scope of this programme. The figures are stated in SEK billions. Source: Sveriges Riksbank.

Change in outstanding loans in Swedish kronor
  SEK billions
Outstanding volume 30 April 2021 3
New lending in May 2021 0
Repayments in May 2021 0
Outstanding volume 31 May 2021 3

 

Total lending in Swedish kronor

Here we present the Riksbank’s total lending of Swedish kronor to the Riksbank’s monetary policy counterparties. The Riksbank is offering to lend an unlimited amount of Swedish kronor against collateral at three or six months’ maturity at an interest rate of the repo rate.

Figure: Loans in Swedish kronor

The diagram shows, at each respective point in time, the Riksbank's total lending in Swedish kronor within the scope of this measure since the measure was initiated in March 2020. The figures are stated in SEK billions. Source: Sveriges Riksbank.

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Updated 21/06/2021