The Icelandic banking system is much better prepared for a potential collapse than it was prior to the 2008 crash.
Governor of the Central Bank of Iceland Már Guðmundsson does not like the idea, introduced earlier this week by a construction company, to offer 95 percent loans to home buyers.
Icelanders use credit cards more frequently than other European nations to pay for goods and services.
The Monetary Policy Committee of the Central Bank of Iceland has decided to keep the bank’s interest rates unchanged.
Yesterday, Icelandic MPs unanimously voted to pass a parliamentary bill regarding the lifting of capital controls.
The consumer price index in Iceland was miscalculated during the past six months, because of mistakes made at Iceland Statistics.
A draft resolution introduced yesterday by Finance Minister Bjarni Benediktsson and Prime Minister Sigurður Ingi Jóhannsson includes measures which would be a big step toward the lifting of capital controls in Iceland.
In all likelihood, the foreign currency reserves of the Central Bank of Iceland will be large enough this fall for the lifting of capital controls for the Icelandic public and Icelandic companies to begin.
“I’m not moving one foot before I find a new home,” says Jenný Jóakimsdóttir, a resident of Hafnarfjörður who has been told to leave her apartment within one week, by order of its new owner—a private company owned by the Central Bank of Iceland.
Central Bank of Iceland Director Már Guðmundsson states now is the best time to lift capital controls.
The Monetary Policy Committee of the Central Bank of Iceland announced yesterday it would raise the bank’s interest rates by 0.25 percentage points.
The Central Bank of Iceland has recommended an exemption from the Foreign Exchange Act be given to the failed banks, Kaupthing hf., Glitnir hf., and LBI hf.
The Reykjavík Fire Department was called out to the Central Bank of Iceland shortly before midnight after water had begun leaking into the building’s hallways.