Press Releases

The Swedish National Debt Office has to date issued almost SEK 93 billion worth of treasury bills in additional auctions. We plan to continue with these auctions.

The money from the additional auctions has been invested in reverse repos in covered mortgage bonds, with maturities of up to three months. Moreover, we have invested about SEK 15 billion of our current surplus in the same manner. This means that we have invested a total of about SEK 108 billion with mortgage bonds as collateral.
These investments, in turn, give the banks better liquidity and indirectly support the mortgage bond market. We consider mortgage bonds as a safe investment with a good return.

As we have announced earlier, we will issue a total of at most SEK 150 billion of T-bills in the extra auctions. This means that there is scope for issuing another SEK 57 billion. We would invest also this money with covered mortgage bonds as collateral.

As the T-bills that we have already issued mature, we have the possibility to extend the loan by again selling the volume that matures. On October 15 about SEK 35 billion of October bills mature. That gives us the possibility to issue the same volume so that the outstanding volume is unchanged. The extra T-bills will not be winded up until market conditions allow so.

We will gradually reduce the volumes in the extra auctions. Currently we expect to sell about SEK 5 billion worth of bills per auction. We will hold at least one auction a week. We announce our plan for the extra auctions below. According to the plan the outstanding extra volume of T-bills will amount to almost SEK 118 billion on October 17 and could reach SEK 150 billion by the end of November. However, we have the flexibility to adjust the issue volumes depending on the market development.

Dates and preliminary volumes for the coming auctions (note that the volumes are an illustration of our plan and can be adjusted if market conditions change):

Friday, October 3 SEK 8 billion Tuesday, October 7 SEK 5 billion Friday, October 10 SEK 5 billion Monday, October 13 Up to SEK 35 billion (on October 15, SEK 35 billion of additionally issued bills mature) Wednesday, October 15 SEK 5 billion (ordinary auction) Friday, October 17 SEK 5 billion

For further information after the press meeting contact:

Thomas Olofsson, Head of Funding, +46 8 613 47 82 Maria Norström, Deputy Head of Funding, +46 8 613 46 35

Riksgälden

http://www.rgk.se/

Stock Identifier: SSE.RIKS