Banking In Iceland

	Banking In Iceland Banking in Iceland faced a crisis in 2008, which resulted in the government taking over three of its largest commercial banks. The short-term liabilities of Icelandic banks in proportion to Iceland's GDP are 211%, as of 11 October 2008, or 480% of the country's national debt, and the average leverage ratio (assets/net worth) is 1 to 14. History Icelandic financial crisis In 2008, Iceland's three major privately owned commercial banks defaulted. Major Banks Central Bank * Seðlabanki Íslands Major Commercial Banks * Landsbankinn * Íslandsbanki * Arion banki * MP banki Investment Banks ALMC hf See also * 2008–11 Icelandic financial crisis References {{iceland-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Commercial Bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with corporations or a large/middle-sized business to differentiate it from a retail bank and an investment bank. Commercial banks include private sector banks and public sector banks. History The name ''bank'' derives from the Italian word ''banco'' "desk/bench", used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times. In the United States, the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the Great Depression, through the Glass–Steagall Act, the U.S. Congress required that commercial banks only engage in ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Commercial Bank A commercial bank is a financial institution which accepts deposits from the public and gives loans for the purposes of consumption and investment to make profit. It can also refer to a bank, or a division of a large bank, which deals with corporations or a large/middle-sized business to differentiate it from a retail bank and an investment bank. Commercial banks include private sector banks and public sector banks. History The name ''bank'' derives from the Italian word ''banco'' "desk/bench", used during the Italian Renaissance era by Florentine bankers, who used to carry out their transactions on a desk covered by a green tablecloth. However, traces of banking activity can be found even in ancient times. In the United States, the term commercial bank was often used to distinguish it from an investment bank due to differences in bank regulation. After the Great Depression, through the Glass–Steagall Act, the U.S. Congress required that commercial banks only engage in ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
picture info	Seðlabanki Íslands The Central Bank of Iceland ( is, Seðlabanki Íslands) is the central bank or reserve bank of Iceland. It has served in this capacity since 1961, when it was created by an act of the Alþingi out of the central banking department of Landsbanki Íslands, which had the sole right of note issuance since 1927 and had conducted only limited monetary policy. Seðlabanki Íslands is owned by the Icelandic government, and is administered by a governor and a seven-member supervisory board, elected by the country's parliament following each general election. It has the sole right to issue notes and coins of Icelandic krónur and to manage the state's foreign currency reserves. The Central Bank Act of 1986 eliminated the ability of the Central Bank to regulate the interest rates of commercial banks and savings banks. Though nominally independent, the Central Bank of Iceland was historically expected to follow the lead of the central government. In 2001, however, a floating exchange ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]
	Landsbankinn Landsbankinn (literally "the National bank"), originally NBI hf., is an Icelandic bank headquartered in Reykjavík. It was established in 2008 by the Icelandic government out of the domestic operations of its predecessor Landsbanki which failed during the 2008–2011 Icelandic financial crisis. It is the largest bank in Iceland and the history of its predecessor goes back to 1885. In 2022 the bank had 35 branches around Iceland. The bank has around 39% market share in the retail market and around 34% in the corporate banking market (2022). History NBI hf. was created 9 October 2008, after the government had taken control of the insolvent Landsbanki two days earlier and decided to split all domestic operations into this new surviving version of the bank, while leaving the remaining foreign operations of Landsbanki for bankruptcy and winding-up proceedings. The total assets value declined roughly to a third for the new bank, when comparing to the previous size for the old version o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu]