The Central Bank of Iceland offers to purchase krónur in exchange for cash payment in foreign currency. More specifically, the Bank is offering to buy krónur defined as offshore krónur according to Act no. 37/2016. The auction will take place on Thursday 16 June 2016. It will begin at 10:00 hrs. and last until 14:00 hrs. that same day.

An advertisement and the Terms of Auction from the Central bank can be found here.

To participate in the auction the priority creditors receiving ISK allocation in December 2011, should approach any of the commercial banks and securities depositories stated in the advertisement, including Landsbankinn hf., which holds the LBI escrow account for ISK.

For further information, please see the Bill of Legislation on the treatment of króna-denominated assets subject to special restrictions and the enclosed Q&A document.