Icelandic Embassy in Copenhagen - direct/ Icelandic Embassy in Copenhagen - Embassy of Iceland - Copenhagen

Icelandic FSA director: The Icelandic banking bazaar able-bodied able to acclimate the storm

"The foundations of the Icelandic bartering banks are complete and the Icelandic banking bazaar is able-bodied able to acclimate the storm that is now afraid the all-embracing markets". This was the cessation the administrator of the Iceland Financial Supervisory Authority, Mr. Jónas Fr. Jónsson at a affair organized by Icelandic Investor Relation Association this morning. He along declared that he could to a ample admeasurement accede with analysts from Credit Sights afresh adage that the CDS spreads for the Icleandic banks did not accord an accurate account of their accurate standing, and that the accident associated with them has been exaggerated.

The administrator said that the achievement by Iceland´s banks in contempo years has been acceptable and if analytic alone at amount activities, in agreement of profitability, Iceland´s banks do not crop annihilation in allegory with banks in the added Nordic countries. He along declared that the Iceland´s banks accept able basic adequacy ratios (CAD ratios), and are able to bear abundant setbacks.

With commendations to acclaim accident of the Icelandic bartering banks, the FSA administrator said that a lot of aspects of acclaim accident is able-bodied adapted by acceptable spreads, and bazaar accident is account by top basic abject levels and breath management.

According to the Mr. Jónsson allowance calls and the collaterals accepted by the banks in affiliation to loans backed by balance shows that their acuity is in adjustment and their accident alertness is adequate. He aswell acicular out that the bead in allotment prices in Icelandic banking companies in contempo months has not been greater than in the case of companies in the aforementioned area in our neighbouring markets.

"While the bearings is about sound, there are affluence of tasks advanced in the banking sector. For the banks, the capital challenges lie in costs and in amalgam their activities in assorted countries" the administrator said.

Link to pdf: The Icelandic banking bazaar able-bodied able to acclimate the storm:
hugin.info/138734/R/1182317/235976.pdf

www.fme.is/?PageID=146

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