March 26, 2020 / 1:01 PM / 7 days ago

Swedish to start buying commercial paper as part of virus package

STOCKHOLM, March 26 (Reuters) - Sweden’s central bank said on Thursday it would start buying commercial paper as part of a 300 billion Swedish crown ($29.84 billion) package to mitigate the effects of the coronavirus pandemic.

“By buying commercial paper, the Riksbank is helping to improve market functionality and thus improve credit supply to companies,” the central bank said in a statement.

It said that on April 2, it would buy 4 billion crowns of commercial paper issued in Swedish kronor by Swedish non-financial corporations with a rating of BBB- or higher.

The Riksbank has also decided to temporarily enlarge the circle of counterparties who can participate in its loan programme. ($1 = 10.0520 Swedish crowns) (Reporting by Simon Johnson; editing by Johannes Hellstrom)

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