The Icelandic Financial Supervisory Authority takes control of Kaupþing
Based on new legislation, the Icelandic Financial Supervisory Authority (FME) proceeds to take control of Kaupþing to ensure continued commercial bank operations in Iceland.
* Domestic deposits are fully guaranteed, as declared by the Government.
* Kaupþing´s domestic branches, call centres, cash machines (ATMs) and internet operations will be open for business as usual.
* The objective of the FME´s action is to guarantee a functioning domestic banking system.
The action taken by the FME is a necessary first step in achieving the objectives of the Icelandic Government and Parliament to ensure the continued orderly operation of domestic banking and the safety of domestic deposits.
Source: Financial Supervisory Authority www.fme.is