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Sparisjóðabanki
SPB (former Sparisjóðabanki Íslands) was a commercial bank in Reykjavík, Iceland, focusing on wholesale and investment banking services to savings banks, Icelandic and foreign financial institutions and other customers. It operated in the areas of trade finance and foreign exchange, payment services, treasury services and funding. SPB shared offices with the Icelandic Savings Banks' Association and The Savings Banks' Guarantee Fund. There were about 90 employees in the Bank. It held a substantial stake in Teris, having been one of the original seven founders in 1989. At the end of 2006 Icebank served as banking institution for most of Iceland's 23 savings banks. In 2009, the bank was liquidated by the District Court of Reykjavik. See also * 2008–2011 Icelandic financial crisis The Icelandic financial crisis was a major economic and political event in Iceland that involved the default of all three of the country's major privately owned commercial banks in late 2008, f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008–2011 Icelandic Financial Crisis
The Icelandic financial crisis was a major economic and political event in Iceland that involved the default of all three of the country's major privately owned commercial banks in late 2008, following their difficulties in refinancing their short-term debt and a run on deposits in the Netherlands and the United Kingdom. Relative to the size of its economy, Iceland's systemic banking collapse was the largest experienced by any country in economic history. The crisis led to a severe economic slump in 2008–2010 and significant political unrest. In the years preceding the crisis, three Icelandic banks, Kaupthing, Landsbanki and Glitnir, multiplied in size. This expansion was driven by ready access to credit in international financial markets, in particular money markets. As the financial crisis of 2007–2008 unfolded, investors perceived the Icelandic banks to be increasingly risky. Trust in the banks gradually faded, leading to a sharp depreciation of the Icelandic krón ... [...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] |
Reykjavík
Reykjavík ( ; ) is the capital and largest city of Iceland. It is located in southwestern Iceland, on the southern shore of Faxaflói bay. Its latitude is 64°08' N, making it the world's northernmost capital of a sovereign state. With a population of around 131,136 (and 233,034 in the Capital Region), it is the centre of Iceland's cultural, economic, and governmental activity, and is a popular tourist destination. Reykjavík is believed to be the location of the first permanent settlement in Iceland, which, according to Landnámabók, was established by Ingólfr Arnarson in 874 CE. Until the 18th century, there was no urban development in the city location. The city was officially founded in 1786 as a trading town and grew steadily over the following decades, as it transformed into a regional and later national centre of commerce, population, and governmental activities. It is among the cleanest, greenest, and safest cities in the world. History According to lege ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 surrounding areas) is home to over 65% of the population. Iceland is the biggest part of the Mid-Atlantic Ridge that rises above sea level, and its central volcanic plateau is erupting almost constantly. The interior consists of a plateau characterised by sand and lava fields, mountains, and glaciers, and many glacial rivers flow to the sea through the lowlands. Iceland is warmed by the Gulf Stream and has a temperate climate, despite a high latitude just outside the Arctic Circle. Its high latitude and marine influence keep summers chilly, and most of its islands have a polar climate. According to the ancient manuscript , the settlement of Iceland began in 874 AD when the Norwegian chieftain Ingólfr Arnarson became the first p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wholesale Banking
Wholesale banking is the provision of services by banks to larger customers or organizations such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions. Wholesale finance refers to financial services conducted between financial services companies and institutions such as banks, insurers, fund managers, and stockbrokers. Modern wholesale banks engage in: * Finance wholesaling * Underwriting * Market making * Consultancy * Mergers and acquisitions * Fund management See also * Merchant banking * Retail banking * Commercial banking * Investment banking References {{reflist Banking Banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investment Banking
Investment banking pertains to certain activities of a financial services company or a corporate division that consist in advisory-based financial transactions on behalf of individuals, corporations, and governments. Traditionally associated with corporate finance, such a bank might assist in raising financial capital by underwriting or acting as the client's agent in the issuance of debt or equity securities. An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, FICC services ( fixed income instruments, currencies, and commodities) or research (macroeconomic, credit or equity research). Most investment banks maintain prime brokerage and asset management departments in conjunction with their investment research businesses. As an industry, it is broken up into the Bulge Bracket (upper tier), Middle Market (mid-level businesses), and boutique ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Savings Bank
A savings bank is a financial institution whose primary purpose is accepting savings account, savings deposits and paying interest on those deposits. History of banking, They originated in Europe during the 18th century with the aim of providing access to Wealth, savings products to all levels in the population. Often associated with social good, these early banks were often designed to encourage low-income people to Saving, save money and have access to banking services. They were set up by governments or by socially committed groups or organisations such as with credit unions. The structure and legislation took many different forms in different countries over the 20th century. Savings banks and Savings and loan association, savings-and-loans are often confused. The original function of savings banks to service consumers was limited to savings. Savings banks invested in Government debt, government and Corporate bond, corporate debt. Savings and loan associations had a dual p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Teris
Teris was an Icelandic software company that focused on servicing the financial sector. It was founded as Tölvumiðstöð Sparisjóðanna (Savings Banks Computer Centre), and changed its name on March 23, 2007, to reflect changes in clientele and ownership. In 2012, Teris merged with Reiknistofa Bankanna ', mbl.is History Teris’ predecessor, Tölvumiðstöð Sparisjóðanna, was founded in March 1989 by six of the largest savings banks in Iceland together with Lánastofnun Sparisjóðanna (the Savings Banks Lending Organization – renamed Icebank). Other savings banks soon joined the partnership. The Computer Centre began as the computer division for the savings banks. Gradually the number of shareholders increased, more finance companies joined the group and the firm expanded. Services Teris provided services as a dedicated computer department, and sold software to several financial institutions and companies in Iceland, the Faroe Islands and Norway Norway, off ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidation
Liquidation is the process in accounting by which a company is brought to an end in Canada, United Kingdom, United States, Ireland, Australia, New Zealand, Italy, and many other countries. The assets and property of the company are redistributed. Liquidation is also sometimes referred to as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation. The process of liquidation also arises when customs, an authority or agency in a country responsible for collecting and safeguarding customs duties, determines the final computation or ascertainment of the duties or drawback accruing on an entry. Liquidation may either be compulsory (sometimes referred to as a ''creditors' liquidation'' or ''receivership'' following bankruptcy, which may result in the court creating a "liquidation trust") or voluntary (sometimes referred to as a ''shareholders' liquidation'', although some voluntary liquidations are controlled by the creditors). The ter ... [...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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Of Iceland
The following is a list of banks in Iceland. Contemporary banks Central * Central Bank of Iceland Commercial * Arion Bank (formerly known as ''New Kaupthing'') * Íslandsbanki (formerly known as ''New Glitnir'') * Landsbankinn (formerly known as ''New Landsbanki'') * Kvika banki Investment * Kvika banki * Defunct banks * Askar Capital (privately owned) * Búnaðarbanki (merged with Kaupthing, became KB Bank and later Kaupthing Bank) * Glitnir (previously government-owned, privatized, went back into government hands during the Icelandic financial crisis) * Iðnaðarbanki (merged with Útvegsbanki, Alþýðubanki, Verzlunarbanki and Samvinnubanki) * Íslandsbanki (First Íslandsbanki was founded in 1904, went bankrupt during the Great Depression. Second Íslandsbanki came into existence when the government owned banks Útvegsbanki, Samvinnubanki, Iðnaðarbanki and Verslunarbanki merged. Íslandsbanki was later re-branded as Glitnir Bank, which was taken into ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Banks Established In 1986
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because banks play an important role in financial stability and the economy of a country, most jurisdictions exercise a Bank regulation, high degree of regulation over banks. Most countries have institutionalized a system known as fractional reserve banking, under which banks hold liquid assets equal to only a portion of their current liabilities. In addition to other regulations intended to ensure accounting liquidity, liquidity, banks are generally subject to minimum capital requirements based on an international set of capital standards, the Basel Accords. Banking in its modern sense evolved in the fourteenth century in the prosperous cities of Renaissance Italy but in many ways functioned as a continuation of ideas and concept ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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