The swap arrangement for securities and two-year F-loan
In accordance with the mandate issued by the Storting (Norwegian parliament) on 24 October, the Ministry of Finance will implement an arrangement whereby the government and banks will swap government securities and covered bonds (OMF) for an agreed period. Norges Bank will administer the arrangement on behalf of the Ministry of Finance and has today published a circular that describes the arrangement. The swap agreements will be concluded by auction. An auction calendar of planned auctions in the period to June 2009 and an example of an invitation to tender have been published. The first auction under this arrangement will be conducted on Monday 24 November. The invitation to tender in the first auction will be published on Wednesday 19 November.
In addition, Norges Bank has today published further specified terms relating to the previously announced two-year F-loan for small banks.
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