Iceland’s Sighvatsson offers guidelines on how to apply new Supreme Court law
Arnór Sighvatsson, a deputy governor of the Central Bank of Iceland, on Thursday delivered guidelines issued by the Central Bank and the Financial Supervisory Authority on foreign currency exchange-rate linked loans, following a Supreme Court judgment on non-binding exchange rate linkage clauses.
The guidelines, which called for a recalculation of loans based on domestic interest rates and reassessment of banks economic capital among other things, are based on the supervisory bodies' opinion
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