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Banking in Iceland

Summary

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.[1]

History edit

Icelandic financial crisis edit

In 2008, Iceland's three major privately owned commercial banks defaulted.

Major Banks edit

Central Bank edit

Major Commercial Banks edit

Investment Banks edit

ALMC hf

See also edit

References edit

  1. ^ "The World's Banks Could Prove Too Big to Fail — or to Rescue". The New York Times. 11 October 2008. Retrieved 14 August 2016.