The Depositors' and Investors' Guarantee Fund ( Icelandic: ''Tryggingarsjóður innstæðueigenda og fjárfesta'') is the

statutory A statute is a formal written enactment of a legislative authority that governs the legal entities of a city, state, or country by way of consent. Typically, statutes command or prohibit something, or declare policy. Statutes are rules made by le ...

deposit insurance Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of ...

scheme in

Iceland Iceland ( is, Ísland; ) is a Nordic island country in the North Atlantic Ocean and in the Arctic Ocean. Iceland is the most sparsely populated country in Europe. Iceland's capital and largest city is Reykjavík, which (along with its s ...

. It is established under Act No. 98/1999 on Deposit Guarantees and Investor-Compensation Scheme, which transposes

European Union directive A directive is a legal act of the European Union that requires member states to achieve a particular result without dictating the means of achieving that result. Directives first have to be enacted into national law by member states before thei ...

s 94/19/EC and 97/9/EC into Icelandic law, in accordance with the decisions of the

European Economic Area The European Economic Area (EEA) was established via the ''Agreement on the European Economic Area'', an international agreement which enables the extension of the European Union's single market to member states of the European Free Trade Ass ...

.Joint EEA Committee Decisions Nos. 18/1994 and 12/1998.

References

External links

Official site

Financial statement 2007
Banking in Iceland Deposit insurance 1999 establishments in Iceland {{iceland-stub

See also

References

External links