Norges Bank

Nordic banks and RBA join Fed swap club

The Federal Reserve on Wednesday stepped up efforts to counter money market tensions, establishing additional swap lines with the Reserve Bank of Australia and three Scandinavian central banks to meet demand for dollar loans.

Iceland sets up swaps with Nordic CBs

In a move that is expected to do much to support the weak krona, the Central Bank of Iceland on Friday said that it had come to an agreement with Sweden, Norway and Denmark to swap its currency for euros.

Bank lending falls in Norway

Household credit demand in Norway declined in the first quarter of 2008, reports a recent survey of bank lending by the Bank of Norway.

Turmoil hampering SWF: Norway's Gjedrem

Heightened uncertainty concerning the financial system and global growth prospects are impacting the Government Pension Fund, Norway's sovereign wealth fund, Svein Gjedrem, the governor of the country's central bank, acknowledged.

Norges's Gjedrem praises SWFs

Debate on sovereign wealth funds (SWFs) should reflect their potential to benefit international financial markets, said Svein Gjedrem, the governor of the Norges Bank.

New SWF event to be held in London

Whether being portrayed as villains for their opacity and secrecy, or as saviours for shoring up the capital bases of some of the biggest investment banks, sovereign wealth funds have seldom been off the front page of late.

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