STOCKHOLM May 5 The Icelandic central bank on
Friday reopened an offshore crown exchange auction, extending a
deadline that expired last week until June 15.
As part of a lifting of capital controls introduced during
the 2008 financial crisis to stop money from flooding out of the
country, the bank is seeking to purchase remaining offshore
crown assets held by foreign funds via a series of auctions.
The original deadline for participation in the latest one,
which bank spokesman Stefan Stefansson said drew strong
interest, was April 28.
"A number of interested parties were unable to finalise
their trades within the timeframe specified by the Bank. As a
result, the Bank has decided to extend the period during which
intermediaries may submit offers," the bank said in a statement.
(Reporting by Stockholm Newsroom)