Fitch Ratings: change in methodology
This week international rating agency Fitch Ratings held a global portfolio rating committee related to an overhaul of the Agency’s sovereign methodology released on May 26th, 2016. The results of the committee were published today. As part of the methodology adjustment Fitch changed its approach to the assessment of the long-term local currency (LTLC) ratings, bringing these ratings in line with the long-term foreign currency (LTFC) ratings for most sovereigns globally.
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Fitch Ratings affirms Iceland’s sovereign rating at BBB+ with a stable outlook
Fitch Ratings has affirmed Iceland’s Long-term foreign and local currency Issuer Default Ratings (IDR) at ‘BBB+’ and ‘A-’ respectively with Stable Outlooks. The issue ratings on Iceland’s senior unsecured foreign and local currency bonds have also been affirmed at ‘BBB+’ and ‘A-’. The Country Ceiling has been affirmed at ‘BBB+’ and the Short-term foreign currency IDR and CP at ‘F2’.
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Standard & Poor’s affirms Iceland’s sovereign ratings at BBB+/A-2 with a stable outlook
International rating agency Standard & Poor’s has affirmed Iceland’s sovereign ratings at BBB+/A-2 with a stable outlook. Standard & Poor’s expects economic growth in Iceland to remain strong over the next few years, supported by the tourism sector and robust private consumption.
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Monetary Policy Committee report to Parliament
The Monetary Policy Committee report to Parliament on the Committee's work during the first half of 2016 has been published on the Central Bank’s website. The Act on the Central Bank of Iceland stipulates that the Monetary Policy Committee (MPC) of the Central Bank of Iceland submit to Parliament a report on its activities twice a year and that the contents of the report be discussed in the Parliamentary committee of the Speaker’s choosing.
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FAQ concerning special reserve requirements for inflows of foreign capital
In connection with the adoption of rules on new capital flow management measures – i.e., the Rules on Special Reserve Requirements for New Foreign Currency Inflows – Central Bank staff have compiled a list of frequently asked questions and answers on the topic. The FAQ can be found under “Questions and answers” on the Foreign Exchange page on the Bank’s website.
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