Financial Supervision 2024
The Central Bank has published the 2024 issue of Financial Supervision on its website. In publishing Financial Supervision each year, the Central Bank aims to ensure an appropriate level of transparency on its activities and priorities in the field of financial supervision.
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The Cost of Retail Payments
Each year, the Central Bank of Iceland collects data on fees charged for payment services and use of payment instruments in Iceland. In its report entitled The Cost of Retail Payments, the Bank sets for the results of its assessment of service charges that households and merchants paid in 2022 to banks, savings banks, acquirers, and other issuers of payment instruments in Iceland.
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Amendments to rules on borrower-based measures
In view of the extraordinary circumstances prevailing in Grindavík, the Financial Stability Committee of the Central Bank of Iceland (FSN) has approved amendments to the Bank’s rules on borrower-based measures.
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Statement of the Central Bank of Iceland Financial Stability Committee 22 February 2024
In view of the extraordinary circumstances in Grindavík resulting from volcanic activity in the area, the Financial Stability Committee of the Central Bank of Iceland has decided to temporarily ease borrower-based measures for those individuals who owned residential property in Grindavík on 10 November 2023. The maximum ratio of debt service to disposable income will be 40% and the maximum loan-to-value ratio will be 85% for these individuals when they next purchase residential housing.
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Minutes of the Monetary Policy Committee meeting in February
In accordance with the Monetary Policy Committee Rules of Procedure, the minutes of the Committee's most recent meeting have been published on the Bank's website. The minutes are published two weeks after the announcement of the Committee‘s decision. The following are the minutes of the MPC meeting held on 5 and 6 February 2024, during which the Committee discussed economic and financial market developments, decisions on the application of the Bank’s monetary policy instruments, and the communication o f those decisions on 7 February.
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