March 13, 2020 / 8:44 AM / a month ago

Swedish central bank to provide SEK 500 billion of liquidity to companies

STOCKHOLM, March 13 (Reuters) - Sweden’s central bank said on Friday it would lend up to 500 billion Swedish crowns ($51 billion) to Swedish companies via banks to ensure they have access to credit during the coronavirus epidemic.

The Riksbank said the virus would have clear negative effects on economic activity and that it was essential that efficient credit supply to companies was maintained.

“The measures taken in this situation should be regarded as a form of insurance that enables Swedish companies — particularly small and medium-sized enterprises — to feel secure that the credit supply will not fail,” Governor Stefan Ingves said in a statement.

The Riksbank said it was prepared to take further measures and to supply necessary liquidity.

$1 = 9.7460 Swedish crowns Reporting by Stockholm Newsroom; Editing by Catherine Evans

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