Norway central bank awards $690 mln to banks in 12-month loans

Norway's central bank allotted 7.95 billion Norwegian crowns ($690 million) in extraordinary loans to banks on Thursday under a new programme offering cash for 12 months amid recent market unrest. "The interest rate on F-loans with a maturity of twelve months is the prevailing policy rate plus 30 basis points," Norges Bank said earlier.

The bank will also offer F-loans with a maturity of one week, one month, three months and six months. Separately, the U.S. Federal Reserve announced temporary U.S. dollar swap lines with a wide range of central banks, including Norges Bank, to ensure the world's dollar-dependent financial system continues to function. ($1 = 11.5196 Norwegian crowns)