Survey of market expectations
The Central Bank of Iceland conducted a survey of market agents’ expectations over the period from 19 through 22 April. A total of 30 agents in the bond market, including banks, pension funds, mutual and investment funds, securities brokers, and licensed asset management firms were invited to participate. Responses were received from 24 market participants, giving a response ratio of 80%.
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Central Bank approves resolution plans for systemically important banks
On 26 April 2022, the Central Bank resolution authority approved resolution plans for Iceland’s three systemically important banks – Arion Bank, Íslandsbanki, and Landsbankinn. The plans cover the execution of bank resolution in the event that their financial position deteriorates to the point that they are deemed failing or likely to fail. Should a systemically important bank fail, the resolution plan assumes that it will be possible to resolve it quickly and securely, and without funding from the Treasury or the Central Bank. Resolution is intended to ensure that households and businesses continue to have unrestricted access to critical functions, thereby supporting financial stability in Iceland.
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Minutes of the Financial Stability Committee 14 – 15 March 2021
The minutes of the Financial Stability Committee meeting 14 – 15 March 2021 have been published. The Committee discussed the current situation and outlook for financial stability and the principal risk factors, such as economic developments, risks faced by financial institutions and the financial system, developments in domestic financial markets, household and corporate debt, the real estate market, and financial institutions’ capital position.
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Central Bank amends rules on derivatives trading
The Central Bank of Iceland has amended the Rules on Derivatives Transactions in which the Icelandic króna is Specified in a Contract Against Foreign Currency.
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New Central Bank Supervisory Board
The Central Bank of Iceland’s new Supervisory Board held its first meeting on Thursday 31 March 2022. At the meeting, Gylfi Magnússon was elected chair and Thórunn Gudmundsdóttir was elected vice-chair.
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