March 19, 2020 / 7:18 PM / 15 days ago

Swedish takes additional measures to mitigate coronavirus effect

STOCKHOLM, March 19 (Reuters) - Sweden’s central bank said on Thursday it would take additional measures to support the economy and mitigate the effects of the coronavirus on the financial system.

The Riksbank said it will now offer loans in U.S. dollars against collateral after signing a swap facility with the Federal Reserve in the United States. An initial auction of $10 billion will take place next week.

The central bank will also ease restrictions on using mortgage bonds as collateral against loans and will buy securities issued by non-financial companies as part of its extended 300 billion Swedish crown quantitative easing programme, announced on March 16.

Reporting by Stockholm Newsroom; Editing by Sandra Maler

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