Iceland
Iceland shows need for pan-EU supervisory approach
The Icelandic experience in the current crisis shows that the European Union's (EU) arrangements for cross-border banking supervision and deposit insurance need urgent strengthening, a new paper from Robert Wade, a professor of political economy at the…
Iceland's losses soar on back of writedowns
The Central Bank of Iceland made a Ikr8.63 billion ($69m) loss in 2008 after it wrote off Ikr75 billion ($607m) in collateral loans following the collapse of the country's banking sector.
Iceland dismisses IMF advice and cuts
The Central Bank of Iceland's rate-setting board cut its key rate by a percentage point on Thursday despite the International Monetary Fund (IMF) last week supporting a "firm" monetary stance.
Iceland explains another deep cut
Members of the Central Bank of Iceland's Monetary Policy Committee decided to cut the key policy rate by 250 basis points to 13% in light of the improved stability of the krona, the minutes for the 5 and 6 May meeting reveal.
Iceland MPC member: too many men led to bad banks
A member of the Central Bank of Iceland's recently-founded Monetary Policy Committee has said that an overabundance of "male bankers high on testosterone" taking "too much risk" was one of the reasons why financial professionals behaved so badly in the…
Iceland cuts by 250bp, eases capital controls
The Central Bank of Iceland's Monetary Policy Committee chopped 250 basis points off its benchmark policy rate on Thursday. The cut, which leaves the rates at 13%, comes as the central bank agreed to relax some capital controls.
Central Bank of Iceland - Monetary Bulletin
In view of the uncertainty related to the global financial crisis, the Central Bank of Iceland's latest Monetary Bulletin has noted that capital controls must be removed cautiously.
Iceland's Oddsson says he did spot flaws
David Oddsson, the former governor of the Central Bank of Iceland who presided over the country's financial meltdown, has said he did warn of the dangers posed by the country's over-reliance on the banking sector.
Icelandic rate setters divided on April cut
Iceland monetary-policy makers voted four to one to cut rates by 150 basis points, minutes of the April meeting revealed.
Iceland's Oygard optimistic on recovery
Svein Oygard, the new governor of the Central Bank of Iceland, is confident that the country can become an exemplar of how to conduct a swift economic recovery.
Iceland cuts by 150 basis points
The Central Bank of Iceland cut its policy rate by one and half basis points to 15.5% on Wednesday, the second cut in less than a month.
Depth of Icelandic cut limited on krona concern
Members of the Central Bank of Iceland's monetary policy committee decided unanimously to cut the key policy rate by a full percentage point to 17% but resisted a steeper move owing to caution about the impact on the currency, the minutes for the 17 and…
Iceland's new MPC cuts by 100bp in first decision
The Central Bank of Iceland's Monetary Policy Committee, set up earlier this month, has cut the key policy rate by a full percentage point to 17%.
Iceland selects chief economist for new MPC
Reykjavik appointed Thorarinn Petursson, the Central Bank of Iceland's acting chief economist, to its newly-created Monetary Policy Committee on Tuesday.
Iceland's Oddsson out, Norwegian consultant in
David Oddsson, the beleaguered head of the Central Bank of Iceland, was forced to step down on Friday following the passing of a new central bank act. Svein Harald Oygard, a director at McKinsey, a consultancy, will replace him as interim governor.
Central Bank of Iceland - Annual Report 2007
Rising Icelandic inflation during 2007 was largely due to a surge in house prices, the country's central bank states in its latest Annual Report.
Embattled Oddsson goes on the offensive
David Oddsson, the under-fire chairman of the board of governors at the Central Bank of Iceland, hit back at a letter sent last week by the prime minister calling for him to resign.
New Icelandic PM calls for the governors' heads
Iceland's new prime minister has asked the central bank's three governors to step down.
We should have warned Europe more: IMF's Belka
The head of the International Monetary Fund's European department has acknowledged the Fund failed to adequately warn European states of the risks from the fallout of the financial crisis.
Iceland pledges to restart FX market
The Central Bank of Iceland pledged to restore the foreign-exchange market in the country, naming three banks as market makers.
Icelandic governor on the defensive
David Oddsson, the chairman of the Central Bank of Iceland, has defended the institution's role in the island's economic meltdown, saying that critics had forgotten that banking supervision was transferred out of the central bank to the new Financial…
Four reasons for Iceland's headache
Iceland's financial problems are a result of a non-viable business model, finds a new paper by Willem Buiter and Anne Sibert from the Centre for Economic Policy Research (CEPR).
Iceland hikes rates by 600bp to access IMF funds
The Central Bank of Iceland has raised rates by a staggering 600 basis points to 18% to meet the conditions of the International Monetary Fund's (IMF) $2.1 billion loan.
IMF pledges $18.6bn to Ukraine, Iceland
The International Monetary Fund (IMF) has agreed multi-billion dollar loans with Reykjavik and Kiev, and said it is close to agreeing terms for Hungarian assistance.