29 October 2018
As from today, publication of the daily net position and monthly foreign exchange reserve figures will take place at 5:00 pm instead of 4:00 pm as has so far been the case.
The time is changed because of the Danish krone's connection as from today to Target2-Securities, T2S. T2S is a pan-European system for clearing and settlement of securities transactions in different currencies. Danmarks Nationalbank makes Danish kroner available to T2S to enable settlement in Danish kroner of securities transactions.
T2S can contribute to cheaper and more efficient settlement of European securities across borders and national infrastructures. The system allows both small and large investors to hold portfolios of securities issued in different EU member states.
The connection to T2S will impact the monetary policy day in Denmark, which will now run from 5:30 pm to 4:45 pm the following day. So far, the monetary policy day has run from 4:30 pm to 3:30 pm the following day.
About the monetary policy day
The monetary policy day is the time during which banks can withdraw or deposit liquidity in their accounts at Danmarks Nationalbank when different payments are made. There may be large intra-day fluctuations in the individual participant's liquidity, but at the end of the monetary policy day the banks' accounts must show no negative balances or deposits exceeding the permitted limits. The banks' positions are settled at the end of the monetary policy day and published as the net position.
Enquiries can be directed to Ole Mikkelsen, press consultant, on tel. +45 3363 6027.