DNB Group: Basis swap impact in fourth quarter 2015
In the fourth quarter of 2015, the DNB Group will record a negative effect of basis swaps connected to funding of approximately NOK 4 million.
In the fourth quarter of 2014, there was a positive effect of basis swaps of NOK 508 million.
Basis swaps are derivative contracts entered into in connection with long-term funding in international capital markets where the relevant currency is converted to Norwegian kroner. These swaps are hedging instruments, and over the lifetime of the derivatives the mark-to-market adjustments will have zero effect.
For further information, please contact Investor Relations in DNB:
Rune Helland : +47 23268400
Thor Tellefsen : +47 23268404
This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.