Banking in Iceland

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

Icelandic financial crisis
Main article: 2008–2011 Icelandic financial crisis

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

Major Banks

Central Bank

Major Commercial Banks

Investment Banks

ALMC hf

See also

References
  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.


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