Central Bank governor Stefan Ingves announces the loan facility

Central Bank Provides Loan Faciity

The Swedish Central Bank says it’s providing 8.5 billion dollars to ease the shortage in long-term credit.

The governor of the Swedish Central Bank, Stefan Ingves, says the international financial turbulence is now clearly affecting financial markets in this country.

He says that Swedish banks have plenty of capital and limited loan losses, but the markets for long-term credit are functioning less efficiently.

The first round of three month funds is to be offered on Monday, with another to follow on October 27th.

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