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BRIEF-DNB ASA will record a positive effect of basis swaps of around NOK 33 mln in Q2
July 2, 2014 / 5:07 AM / 3 years ago

BRIEF-DNB ASA will record a positive effect of basis swaps of around NOK 33 mln in Q2

(Repeats to additional subsribers)

OSLO, July 2 (Reuters) - July 2 (Reuters) - DNB ASA : * In the second quarter of 2014, the DNB Group will record a positive effect of basis swaps connected to funding of approximately NOK 33 million. * In the second quarter of 2013, there was a negative effect of basis swaps of NOK 88 million. * Basis swaps are derivative contracts entered into in connection with long-term funding in international capital markets where the relevant currency is converted to Norwegian kroner. * These swaps are hedging instruments, and over the lifetime of the derivatives the mark-to-market adjustments will have zero effect. (Reporting by Gwladys Fouche)

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