News

27.10.2011 : European banks will help implement solutions

Press release from EBF :

The European Banking Federation (EBF) welcomes the EU Member States' decisions towards financial stability and solving the current difficulties of the sovereign debts.

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17.8.2011 : Central Bank of Iceland raises interest rates by 0.25 percentage points.

The Monetary Policy Committee (MPC) of the Central Bank of Iceland has decided to raise the Bank's interest rates by 0.25 percentage points. Read more
 

30.6.2011 : Changes to deduction of capital income tax

The Icelandic Financial Services Association (SFF) draws attention to the fact that Icelandic financial undertakings are as of 1 July obliged to withhold a 20% capital income tax upon payment or availability for payment of financial income. This change primarily affects financial income from securities, debentures in collection and receivables that have been accumulating interest before 1.1.2010.  Financial income on bank deposits has been paid on a yearly or monthly basis and no changes will apply to taxation of this income.

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6.5.2011 : Treasury prepays bonds for 346 million euros

In a tender among investors, the Treasury purhcased at par value foreign Treasury bonds maturing in 2011 and 2012. Read more
 

2.5.2011 : Icelandic authorities respond to ESA over Icesave dispute

Iceland maintains that it did not fail to comply with its obligations under Directive 94/19/EC. Government is also optimistic that depositor claims will be paid in full from estate of failed Landsbanki.

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20.4.2011 : Moody´s affirms Icelands credit rating with negative outlook

Moody's has today affirmed Iceland's Baa3 longt-term ratings and their negative outlook, as well as the P-3 rating for short-term debt.

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20.4.2011 : Policy rate remains unchanged at 4.25% - MPC statement

Deposit rate remains at 3.25%, max. bid rate of 28-day CDs at 4.0% and overnight lending rate at 5.25%.
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13.4.2011 : S&P places Iceland on credit watch negative

Iceland's S&P ratings are BBB- for long-term obligations in foreign currency and BBB for long-term obligations in ISK with a negative outlook.

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11.4.2011 : 40 domestic and foreign investors invest 5.5 bn ISK in MP Bank

The group of new shareholders includes both domestic and foreign institutional investors who believe in the future of the bank. Read more
 

11.4.2011 : Fitch comments following rejection of Icesave agreement

Fitch notes that while Icesave has tended to dominate the credit outlook, it is important not to overlook broader macroeconomic improvements.

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10.4.2011 : Government statement on the outcome of Icesave referendum

The Government states that the outcome will not affect the commencement of payments by the estate of  Landsbanki Íslands hf. to priority claimants.

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10.4.2011 : Voters reject Icesave agreement

The Icesave agreement was rejected by approximately 60% of Icelandic voters.

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29.3.2011 : Capital account liberalisation strategy

The strategy does not include a timeline. The pace  will depend on relevant economic conditions and on the outcome of previous steps in liberalization.

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16.3.2011 : Policy rate remains unchanged at 4.25% - MPC statement

Deposit rate remains at 3.25%, max. bid rate of 28-day CDs at 4.0% and overnight lending rate at 5.25%. Read more
 

20.2.2011 : President of Iceland refuses to sign Icesave bill

According to the Icelandic Constitution a referendum on the bill will now take place as soon as possible. Read more
 

16.2.2011 : Parliament agrees on a bill regarding Icesave

A total of 44 MP´s voted in favor of the agreement , 16 MP´s were not in favor and 3 MP´s abstained. Read more
 

2.2.2011 : Policy rate lowered by 0.25% to 4.25% - MPC statement

Deposit rate is also lowered to 3.25%, max. bid rate of 28-day CDs to 4.0% and overnight lending rate to 5.25%. Read more
 

11.1.2011 : Financial Supervisory Authority and Central Bank of Iceland conclude improved cooperation agreement

The aim of the agreement is to promote a sound, effective, and safe financial system in Iceland, including payment and settlement systems. Read more
 

10.1.2011 : IMF approves 4th review of Iceland´s Economic Recovery Programme

The approval opens IMF disbursement of USD160m and approximately EUR1bn in loans from the Nordic countries and Poland.

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7.1.2011 : Agreement on debt restructuring of SMEs

The Agreement applies where continued operations of SMEs are deemed by lenders to best serve the interest of creditors, employees and owners.

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