Market operations at quarter-end and year-end
Norges Bank will continue to issue fully allotted F-loans at a fixed rate over quarter-end and year-end. The terms will remain the same as for similar F-loans issued in 2017/2018. These market operations will be conducted and settled on the last trading day of each quarter. The loans mature on the first trading day of the following quarter. Closing time for bids is 4:10 pm. The interest rate is equal to the key policy rate plus 15 basis points.
The aim of these market operations is to ensure the availability of NOK liquidity at a price close to the key policy rate, also over quarter-ends and year-end.
These F-loans will be issued even when total liquidity is within the target range for the quantity of reserves in the banking system. No extraordinary F-deposit auctions will be held in order to drain any surplus liquidity resulting from the F-loans. Other market operations in the period will be conducted as usual with allotment and maturity depending on the projection of structural liquidity.
For more information on the auction dates for these F-loans in 2019, see the auction calendar on Norges Bank's website.
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