Information on F-loan in US dollars
- Auction date: Thursday, 18 June 2020
- Time of auction: 2:00 – 2:30 pm
- Time of allotment: 3:00 pm
- Settlement date: Monday, 22 June 2020
- Maturity (days): 84
- Maximum allotted volume: USD 3 billion
- Minimum bid volume per bank: USD 25 million
- Maximum number of bids per bank: 3
- Bids may be reduced/rejected
- Lowest permitted interest rate: 0,33 percent
- Auction form: ordinary auction and open bid volume
- Interest convention: ACT/360.
The auction is open to Norges Bank’s monetary policy counterparties.
Bids must be submitted on the bidding form and sent by e-mail to email@example.com. Bids must also be confirmed by telephone on +47 22 31 71 70.
Each bid shall contain a volume, stated in millions of US dollars, and an interest rate, stated in hundredths of a percent (two decimal places). The exact volume of the lowest accepted bid rate will be published on the auction date on this website, under lowest accepted bid rate.
The loan is being offered against collateral in the form of securities (ISIN) already approved by Norges Bank. Banks do not need to pledge extra collateral in order to participate in the auction. There will be an additional haircut for exchange rate risk of 6 percent of the retained loan facility, regardless of the currency of the pledged securities. Banks must make sure they have sufficient collateral available by closing time of NBO on the day before settlement, on Friday 19 June.
The securities must be pledged in Norges Bank’s favour. If the value of the collateral is reduced during the term of the loan, Norges Bank may require the pledging of additional collateral. The bidder must ensure that the collateral value of the pledge securities exceeds the size of the bid.
Banks receiving an allotment must submit settlement instructions to Norges Bank, to firstname.lastname@example.org. All questions regarding settlement can be directed to this address. We ask all banks that are planning to bid at the auction to send this as soon as possible. Norges Bank will sent its settlement instructions to the banks with a request for confirmation that they have been received and entered into their system.