On 18 March the Riksbank offers new SEK loans against commercial paper

In order to improve the supply of loans to the corporate sector, on 28 October the Riksbank decided to set up a temporary credit facility with commercial paper as collateral. The loans were provided in an auction procedure and their lifetime was three months. On the 13 February 2009, the Riksbank announced that in the future the loans will be offered with a variable interest rate and at longer maturities.

The sixth credit under the new programme will be provided in an auction held on 18 March and will comprise SEK 25 billion. The loans will be provided against commercial paper as collateral and the period to maturity is 168 days, which means that the loans will fall due on 8 September 2009. The minimum interest rate will correspond to the average repo rate during the maturity of the loan with a supplement of 0.20 percentage points.

A monetary policy counterparty that wants to participate in the auction of 18 March must register the commercial paper programmes the counterparty intends to use no later than 15.00 hours on Friday 13 March.

Notification of participation in the programme is to be made no later than 10.00 hours on 18 March if no such notification has been submitted previously. Payment date is Tuesday 24 March.

More information about the procedure and the terms for the credit facility will be found on the Riksbank’s website, www.riksbank.se.

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The Riksbank is Sweden's central bank and an authority under the Riksdag, the Swedish parliament. The Riksbank is responsible for monetary policy with the objective to maintain price stability. The bank has also been given the task to promote a safe and efficient payment system.

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