OREANDA-NEWS. November 12, 2013. Approved by the State Council, the PBC and the Central Bank of Iceland renewed the local currency swap agreement, for the purpose of strengthening bilateral financial cooperation, facilitating bilateral economic and trade business, and promoting financial stability of the two countries.

The size of the swap line is 3.5 billion yuan or 66 billion ISK.

The agreement has a 3 year maturity and can be extended by mutual consent.