Iceland seals deal to buy back Luxembourg-based króna bonds

gudmundsson-mersch

The Central Bank of Iceland on Tuesday struck a deal with Luxembourg's central bank and the liquidator of the Luxembourg arm of Landsbanki, a failed Icelandic bank, which is expected to pave the way for a further relaxation of Iceland's capital controls.

The Icelandic central bank agreed to buy back 98% of Avens BV bonds owned by Landsbanki Luxembourg, which were used as collateral for funds received from the Central Bank of Luxembourg shortly before the Icelandic lender collapsed.

Avens BV is a

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