March 19, 2020 / 2:09 PM / 21 days ago

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

OSLO, March 19 (Reuters) - 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) (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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