UPDATE 1-Swedish central bank adds Norwegian, Danish crowns to reserves
(Adds comment from central bank official)
STOCKHOLM, Nov 7 (Reuters) - Sweden's central bank is addingthe Danish and Norwegian crowns as new reserve currencies, butwill stay out of the Chinese yuan for now, the Riksbank said onWednesday.
The British pound, which the Riksbank already holds, willalso get the status of one of five contingency currencies alongwith the two Nordic units, the dollar and the euro, the banksaid in a statement.
Sweden will not - unlike the European Central Bank, SwissNational Bank and Bank of England - include China's yuan as apermitted holding in the currency reserves."Our current conclusion is that only OECD currenciesqualify," Heidi Elmer, head of the Riksbank's markets departmenttold Reuters.
She said the yuan was at present not needed as a contingencycurrency and it did not meet the central bank's conservativerequirements of high liquidity and creditworthiness for holdingsin the gold and foreign exchange reserves.
The new policy will apply from Jan. 1, 2019.
The Riksbank also repeated a call on the Swedish FinancialSupervisory Authority to set the Liquidity Coverage Ratio (LCR)requirements for major Swedish banks in all significantcurrencies.
(Reporting by Daniel DicksonEditing by Matthew Mpoke Bigg; editing by David Stamp)
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