Carnegie gets 1 bln SEK bridge loan from Riksbank

Mon, Oct 27 2008, 06:38 GMT
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STOCKHOLM, Oct 27 (Reuters) - Swedish investment bank Carnegie said on Monday it has been granted a 1 billion Swedish crown ($126 million) bridge loan from the Swedish central bank pending implementation of a government guarantee scheme.

"Like many other banks we have been granted short term financing from the Central Bank," Carnegie Chief Executive Mikael Ericson said in a statement.

"Our core operation has shown strength and resilience and I am confident that our strategic decision to return to our core business of investment banking advisory and commission driven services will give us lower risk profile and better funding."

The Riksbank, Sweden's central bank, said in a separate statement that Carnegie was suffering temporary liquidity problems and that it was granting the bank assistance to reduce the risk of "serious" disruption to the financial industry. ($1=7.952 Swedish Crown) Keywords: CARNEGIE LIQUIDITY/

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