IMF Staff Country Reports

Iceland: Financial System Stability Assessment Update, including Report on the Observance and Standards and Codes on the following topics: Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency

August 29, 2003

Download PDF More Formats on IMF eLibrary Order a Print Copy
More formats on IMF eLibrary Order a Print Copy

Preview Citation

Format: Chicago

International Monetary Fund. Monetary and Capital Markets Department "Iceland: Financial System Stability Assessment Update, including Report on the Observance and Standards and Codes on the following topics: Banking Supervision, Insurance Regulation, Securities Regulation, Payment Systems, and Monetary and Financial Policy Transparency", IMF Staff Country Reports 2003, 271 (2003), accessed November 21, 2024, https://0-doi-org.library.svsu.edu/10.5089/9781451819274.002

Export Citation

  • ProCite
  • RefWorks
  • Reference Manager
  • BibTex
  • Zotero
  • EndNote

Summary

The 2001 financial system stability assessment identified risks of financial sector instability, as rapid increases in foreign and domestic currency indebtedness, accumulating external imbalances, and inflation accompanied Iceland's expansion of the late 1990s. The insurance sector, composed of 15 domestic insurance companies including four life insurance companies and three larger companies that dominate the nonlife market, is the smallest sector in the financial system. The authorities monitor banks' long-term foreign exchange refunding needs and the outcomes of refunding operations.

Subject: Banking, Capital adequacy requirements, Commercial banks, Expenditure, Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Loans, Pension spending

Keywords: Capital adequacy requirements, Commercial banks, CR, Enforcement power, Financial Sector Assessment Program, FME action, FME board, FME data, FME examination process, FME power, FME resource, FME staff, FME supervision, ISCR, Loans, Operating budget, Pension spending, Return on assets, Stress scenario

Publication Details

You May Also Be Interested In...

India: Review and Evaluation of the Reserve Bank of India’s Stress Test Model Framework

November 20, 2024

Growth Convergence and Public Finances of India and its States

November 15, 2024

Republic of Tajikistan: Technical Assistance Report-Public Investment Management Assessment with the Climate Module

November 8, 2024

Colombia: Technical Assistance Report-Report on the Mineral Asset Accounts and Carbon Footprints Mission (May 20–24, 2024)

November 8, 2024