Iceland: Reactivation of the Bridge for Icelandic XS securities


Further to complete lifting of the Capital restriction in Iceland, and in reference to previous Announcements M21003, A17098, A16156, A16114 and A16136 in particular, Clearstream Banking1 informs customers that effective

7 December 2022

settlement activity on the ISK-denominated Eurobonds held within Common Depository structure will be reactivated.


According to the new Foreign Exchange Act, no. 70/2021, whose bill of legislation was introduced in February 2021, the Offshore Króna Act is repealed, effective 29 June 2021, and the new Foreign Exchange Act entered into force.

The new Foreign Exchange Act has led to the abolishment of the remaining capital restrictions and associated cash and securities segregations requirements that had prevented the pursue of activity across the bridge.

Impact on customers

Settlement activity with Euroclear Bank SA/NV counterparties involving, but not limited to, following list of securities is now fully restored.


Security Name/Description




ISK 3,75 HFF (REPUBLIC OF ICELAND) (1-19) 04-2024


ISK 3,75 HFF (REPUBLIC OF ICELAND) (1-49) 04-2044

Further information

For further information please contact Clearstream Banking Client Services or your Relationship Officer.

1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany, and registered in Register B of the Amtsgericht Frankfurt am Main, Germany, under number HRB 7500.