IMF Staff Country Reports

Iceland: Financial System Stability Assessment

Publication Date:

June 23, 2023

Electronic Access:

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Summary:

Iceland has made solid progress since the 2008 crisis and the last FSAP update in restructuring banks and implementing important financial sector reforms. It has transposed many EU Directives and Regulations into national law, improving the regulatory, supervisory, and crisis management frameworks. Despite global headwinds, Iceland is exiting the pandemic with strong economic growth and highly capitalized banks. Rising inflation has prompted appropriate policy rate hikes, and macroprudential policies related to real estate exposures have been tightened. Payment systems are dependent on international connectivity of debit and credit card providers.

Series:

Country Report No. 2023/220

Subject:

Expenditure Financial Sector Assessment Program Financial sector policy and analysis Financial sector stability International organization Monetary policy Pension spending Prices Real estate prices Stress testing

Frequency:

regular