Changed collateral requirements for credit in RIX
The Riksbank has taken a decision to increase the opportunities for credit in the RIX payment system. The permitted share of covered bonds from institutions with close links that can be used as collateral in the system is being raised from 25 per cent to 75 per cent. This change comes into force immediately.
On 18 September 2008 the Swedish National Debt Office, after consultation with the Riksbank, decided on measures to ease the functioning of the Swedish money and bond markets. Given the developments in the financial markets, there is also reason for the Riksbank to reconsider whether certain collateral can be accepted in the RIX system in larger volumes to facilitate access to credit in the payment system.
Covered bonds are securities of good quality and have previously been accepted as collateral for credit in the RIX payment system even when issued by the borrower or by an institution with close links to the borrower. The decision now made means that the permitted share of the total collateral is raised from 25 per cent to 75 per cent. This change in the limitation applies with immediate effect and until further notice.
