Press releases

16 APRIL 2008: NEW SHIP COIN WITH M/S SELANDIA AS ITS MOTIF

Tomorrow Danmarks Nationalbank issues a new 20-krone coin with M/S Selandia as its motif. This is the third coin in a series with ships as their common motif.

The coin is presented today at the DieselHouse museum in Copenhagen. The DieselHouse is built around a Burmeister & Wain (B&W) diesel engine from 1932, which for many years was the largest diesel engine in the world.

M/S Selandia, which was built by B&W for the East Asiatic Company in 1912, was the world's first ocean-going ship powered by diesel. It marks the transition from steam ships to motor ships and was hailed as a technological wonder in its day. However, it lacked the distinctive architectural feature of the steam ships, the large funnels. After its successful maiden voyage, M/S Selandia was followed by its sister vessels, M/S Fionia and M/S Jutlandia. After M/S Selandia grounded and sank near Japan in 1942, several other ships have borne its name. A model of M/S Selandia can also be seen at the DieselHouse.

The motif for the coin has been designed by the sculptor Torben Ebbesen, who was also the artist behind the Nightingale fairy tale coin. "My tribute to M/S Selandia, the ancestor of all modern ships, gives a dynamic impression of the power of invention ploughing its way through the sky and the sea – without funnels", says Torben Ebbesen.

The Selandia coin is issued as a 20-krone coin in ordinary circulation in an edition of 1.2 million. The face of the coin shows a profile of the Queen.

The Selandia coin will be in circulation via the banks from tomorrow. It can also be ordered from Danmarks Nationalbank (Banking Services) and via the website of The Royal Mint, www.royalmint.dk. Pictures of the coin can be found on the website of The Royal Mint. The next ship coin is expected to be issued in the summer of 2008.

9 MAY 2008: DANMARKS NATIONALBANK OPENS NEW SECURED LENDING FACILITY

On 23 May 2008 Danmarks Nationalbank will open a new secured lending facility to support the exchange of liquidity in the money market.

Until May 2009 banks and mortgage credit institutes can borrow on a weekly basis against a new special type of bills, loan bills.

Governor Nils Bernstein:

"As an outcome of the financial turmoil, we have found it appropriate to expand the set of collateral. Like a can of oil, the facility is intended to lubricate the exchange of liquidity among banks.

Extensive use of the facility is not a criterion of success. Our mere acceptance of loan bills as eligible collateral means that the bills form part of the liquidity reserve of the bank or mortgage credit institution acquiring it. So even if the loan bills are not posted as loan collateral with Nationalbanken, the facility may have a positive impact.

A more detailed description of the facility is available on www.nationalbanken.dk

The other facilities of Danmarks Nationalbank remain unchanged.

16 MAY 2008: INTEREST RATE INCREASE

With effect from 16 May 2008 the lending rate and the interest rate for certificates of deposits are raised from 4.25 per cent to 4.35 per cent. The discount rate and the interest rate on banks' current accounts with Danmarks Nationalbank remain unchanged at 4.0 per cent.

Since August 2007 the spread between Danmarks Nationalbank's lending rate and ECB's marginal rate has been reduced with 15-20 basis points, thus the spread has more or less disappeared. In short periods of time the interest-rate spread has been negative.

The development of the interest-rate spread has led to a weakening of the Danish krone, and in accordance with the fixed-exchange-rate policy Danmarks Nationalbank has intervened to support the krone.

16 MAY 2008: NATIONALBANKEN ENTERS SWAP FACILITY WITH SEÐLABANKI ÍSLANDS

Danmarks Nationalbank and the central banks of Norway and Sweden have entered into bilateral swap facility agreements with the Central Bank of Iceland, Seðlabanki Íslands.

The facility gives Seðlabanki Íslands the right to acquire euro if needed to ensure financial stability.

The agreement with Danmarks Nationalbank enables Seðlabanki Íslands to acquire euro against Icelandic krona for up to an aggregate amount of EUR 500 million.