MNI BRIEF: Scandi Central Banks In Currency Swap Agreements

The Riksbank, Norges Bank and the Danish central bank have agreed a series of currency swap facilities to strengthen contingencies against crisis situations and to help promote regional stability, the Swedish bank said Thursday.

The agreement allows central banks to swap their own currencies with one another and is the outcome of negotiations underway since 2019. The agreement "complements the memorandum of understanding regarding banks with cross-border establishments signed by the Nordic and Baltic central banks in 2016," the Riksbank said.

Bilateral swap agreements have been agreed between Norges Bank and Sveriges Riksbank and between Danmarks Nationalbank and Norges Bank. An agreement between Danmarks Nationalbank and Sveriges Riksbank is currently being negotiated.